Investors Flag Concerns Over Rosmerta Digital Services’ ₹206 Crore IPO Plan
Mumbai, Nov 13: A group of investors has raised serious concerns over the proposed SME IPO of Rosmerta Digital Services, which recently filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India to raise ₹206 crore.
According to sources, multiple complaints have been submitted to SEBI, the Finance Ministry, and other authorities against the promoters of the three-year-old company. The complaints reportedly question the disclosures made in the IPO documents and seek a detailed investigation before the public issue moves ahead.
Rosmerta Digital Services is engaged in digitally enabled services and channel sales of automotive components and accessories. The IPO is a completely fresh issue of 140.36 lakh equity shares, priced between ₹140 and ₹147 per share.
The issue is scheduled to close on November 21, while bidding for anchor investors is expected to begin on November 14.
The complaints name promoters Kartick Vivek Nagpal, Karan Vivek Nagpal, Rosmerta Technologies, and representative Aarti Nagpal. They have been accused by complainants of withholding key information and presenting distorted financial data in the DRHP.
One investor, who requested anonymity, alleged that several important disclosures were omitted from the prospectus, which potential investors should have had access to before making investment decisions.
Another Mumbai-based investor, Rohit Vijay Nirmal, claimed he had filed a formal complaint alleging suppression of facts, financial irregularities, and violations of regulatory norms.
The complainants have also questioned the company’s governance standards, alleging that conflicts of interest may harm future public shareholders if left unchecked.
They have urged authorities to halt the IPO process until a full and independent investigation is completed, saying it is necessary to protect retail investors and maintain trust in capital markets.
News source: Information for this article was gathered from a variety of reliable news outlets.
