The Securities and Exchange Board of India (Sebi) has taken significant action against more than 30 entities, including market intermediaries and promoters, in relation to the alleged manipulation of RRP Semiconductor's stock. The company's share price experienced an extraordinary surge of 725 times, climbing from ₹15 on April 2, 2024, to ₹10,887 by October 31, 2025. This dramatic increase prompted Sebi to conduct a preliminary investigation into potential violations of fraud and unfair trade practices. The investigation, covering the period from April 2024 to October 2025, revealed prima facie evidence of multiple entities involved in creating artificial price movements and misleading market activities. Among those named in the interim order are key individuals such as Ramesh Mishra and Ira Mishra, as well as firms like Multiplier Share & Stock Advisors and Pace Stock Broking Services. This case underscores the importance of regulatory vigilance in maintaining fair trading practices in the stock market.