A pleasant surprise for me, when I happened to check my savings account statement, today. I observed a credit of a few hundreds and was scratching my head, as to what it is. The transaction remark was not clear. It read like 'SEBI IPO'. But, when I read an article in rediff (link shown below), then I understood the reason for this credit.
It was like unbelievable, but true. When there were stories doing the rounds that SEBI is planning to compensate the retail applicants affected by the IPO scam of 2004-05 in some way a couple of months back, I thought it was just a foolish idea, as it is an impossible thing to do so, looking into the complexity of such an exercise. But, SEBI has done it !!! Rs. 20 crores collected from the IPO scamsters has been distributed to over 12.75 lakh retail investors, who would have otherwise profited by the share allotment in IPO.
Though the "compensation amount" is miniscule, I can understand the enormous efforts put in by SEBI for accomplishing this job.
Kudos to SEBI & team !!!