Spright Agro Ltd. Managed India’s Biggest Stock Manipulation Scam, SEBI Clueless News24 –

It is going to be one of the biggest financial scandals in the country after Spright Agro Ltd. (BSE: 531205) managed a meticulously planned stock manipulation and financial fraud that siphoned off ₹4,675 Crores while leaving thousands of retail investors in financial disaster.

According to a report published in MoneyControl.Com, The agro-based company turned out to be a complex web of insider trading, circular trading, and rights issue fund diversion, executed through a network of shell entities and bulk trading manipulations.

With the stock price artificially inflated from ₹5 to ₹55.41 before crashing back to ₹6.77 in early 2025, investors were left holding worthless shares while insiders made massive profits. The fraud, orchestrated over multiple phases, exposed deep regulatory loopholes, preferential allotment fraud, and undisclosed related-party transactions, the MoneyControl reported.

The scam began with a takeover of Spright Agro Ltd. in 2021, where stock operators gained control of the company and strategically replaced its management with individuals linked to shell entities. By 2023, the company had undergone a rebranding, changing its name from Tine Agro Ltd. to Spright Agro Ltd., signaling an attempt to erase past scrutiny and present an attractive investment profile. Over the following months, insiders began accumulating shares at suppressed prices while executing pre-planned bulk trading to create the illusion of market activity. Despite no fundamental business growth, the stock price surged, luring unsuspecting investors.

The peak of the fraud came between October 2024 and January 2025, when social media influencers and paid financial analysts aggressively promoted Spright Agro Ltd. as a “multibagger stock,” causing retail investors to enter at inflated prices. As expected, insiders strategically exited at peak levels, dumping shares onto unsuspecting buyers before the inevitable crash. The stock collapsed from ₹55.41 to ₹6.77 in weeks, erasing billions in investor wealth and triggering widespread panic.

This case is not just another stock market anomaly—it is a coordinated financial crime that has exploited regulatory loopholes and caused irreparable harm to retail investors. Market watchdogs must act swiftly to bring the perpetrators to justice, restore investor confidence, and ensure that similar frauds do not continue unchecked. The time for regulatory oversight and legal enforcement is now.