Inventure Growth & Securities has informed exchanges that SEBI has revoked interim directions issued on May 14, 2025 against its wholly owned subsidiary, Inventure Merchant Banker Services Pvt Ltd, even as the regulator continues a detailed investigation into the Varyaa Creations IPO matter under the SEBI Act, 1992.
Inventure Growth & Securities Ltd (IGSL) on Monday said capital markets regulator SEBI has vacated the interim directions imposed earlier this year on its subsidiary, Inventure Merchant Banker Services Pvt Ltd (IMBSPL). The revocation order, passed under Sections 11, 11(4) and 11B(1) read with Section 19 of the SEBI Act, 1992, was received by the company on December 29, 2025.
The interim order dated May 14, 2025 had restrained IMBSPL from taking up new merchant banking mandates in connection with alleged irregularities in the IPO of Varyaa Creations Ltd, where IMBSPL acted as lead manager. SEBI has now lifted those directions, allowing the subsidiary to resume normal merchant banking operations, subject to the outcome of the ongoing probe.
Key Points / Developments
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Revocation of interim directions issued on May 14, 2025 against IMBSPL, a wholly owned subsidiary of IGSL.
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Order vacating the earlier curbs has been passed under Sections 11, 11(4) and 11B(1) read with Section 19 of the SEBI Act, 1992.
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SEBI has clarified that observations in the latest order are tentative and a detailed investigation will continue independently of past or present interim findings.
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Appropriate regulatory action may follow based on the outcome of the detailed investigation into the Varyaa Creations IPO and related transactions.
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The company has stated that there is no litigation update involving key managerial personnel, promoters or persons in control, and no settlement terms or financial impact have been reported at this stage.
Sources: Company exchange filing; Securities and Exchange Board of India order; Reuters report on Inventure Growth & Securities Ltd.