SEBI Bars Omaxe, for Artificial Public Shareholding Scheme

Market regulator SEBI has barred real estate firm Omaxe Limited and five others from the securities market for up to one year and imposed total penalties of Rs 1.92 crore for allegedly engineering an artificial structure to meet minimum public shareholding (MPS) norms. In its order dated September 24, 2026, SEBI restrained Omaxe for three months. Promoters Rohtas Goel, Jai Bhagwan Goel, former joint managing director Sunil Goel, and group companies Dream Home Developers Pvt Ltd and Guild Builders Pvt Ltd face a one-year ban. The entities are prohibited from buying, selling or dealing in securities, including mutual fund units, and from any association with the securities market during the period. SEBI found that Omaxe and its group entities routed around Rs 46.50 crore through intermediary companies to fund acquisitions of Omaxe shares during Offer for Sale windows in June and October 2013. These holdings were then disclosed as public shareholding, creating the appearance of independent public ownership.