Capital and commodities markets regulator, SEBI, has found ICICI Prudential Asset Management Company (ICICI Pru AMC) guilty of violating rules while bidding for the shares of firm ICICI Securities (I-Sec) on the last day of initial public offer. Accordingly, it has directed the fund house to refund Rs 240 crore with an annual interest of 15 percent to five schemes of mutual fund which invested in the IPO.
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