New Delhi : Sebi on Thursday barred First Overseas Capital from taking any new mandate for two years and levied a penalty of Rs 20 lakh for multiple violations, including furnishing false information and breaching underwriting limits.The regulator has also restrained First Overseas Capital Ltd (FOCL) from accessing as well as dealing in the securities markets for a period of two years.

SEBI @SEBI_updates has just banned Merchant Banker "First Overseas Capital", the infamous LM of SYNOPTICS, NIRMAN, VARANIUM, ELECTRO FORCE, CELL POINT and many other "WONDERFUL" IPOs!! They must be having some special capability due to which Horrible IPO Companies 😠 prefer… pic.twitter.com/ywnAgCEJgo — RajStockWatch (@RajStockWatch) October 23, 2025

In a 43-page order, Sebi found that FOCL submitted

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