Sarthi Capital Advisors Private Limited IPO Lead Manager Review

Beware of Sarthi Capital and its Managing Director Deepak Sharma, who were the merchant bankers to a SME IPO of Five Core Electronics Ltd for which they raised Rs. 46.66 crs in May 2018 by recommending very strongly to their clients to subscribe and also to buy post listing. To the surprise of all the investors by April 2019 the promoters of Five Core had fled India due to serious fraud with his family and the share price crashed to 20/- after which the shares has been suspended thus the investing public have lost crores due to Sarthi Capital. See link: https://www.moneylife.in/article/five-core-electronics-launched-ipo-in-may-2018-now-promoters-are-untraceable-company-defunct/57020.html The fraud that was committed at the time of the IPO was that material fact that the CRISIL had suspended the rating on 29.04.2106 and that on June 04, 2018 Care Ratings had said that the Issuer not Cooperating was not disclosed in the Prospectus.