A series of fake messages recommending investing in the SME IPO of Maagh Advertising and Marketing Services is being widely circulated on WhatsApp and through SMS. These messages attribute to Zee Business Managing Editor Anil Singhvi to earn investors’ confidence. However, these all messages are FAKE as Anil Singhvi has made no such recommendation.
Market Guru Anil Singhvi said that he has not made any recommendation to invest in the IPO. Besides him, the fake messages also refer to IIFL Securities Director Sanjiv Bhasin. The messages claim that Singhvi and Bhasin have recommended investors to participate in the public offer.
The Managing Editor alerted Zee Business viewers that neither he nor Sanjiv Bhasin has suggested investing in this SME IPO. He also said that the matter has been taken up with the company’s management as well as with the lead managers.
The FAKE message reads: “Subscribe to Maagh Advertising and Marketing Services Ltd IPO I GMP Rs 100 I Reliance buy stake I Recommended by ZeeBiz.”
Along with the fake message, a collage image of Anil Singhvi, and Sanjiv Bhasin with the Zee Business logo is also being circulated. Besides, a man could be heard saying that the IPO price is Rs 60 and the grey market price (GMP) is Rs 100 and that the IPO is recommended by Anil Singhvi.
Singhvi said that “neither he nor anyone from the Zee Business research team has recommended anything officially”.
The Managing Editor advised viewers/investors to cross-check the official social media handles of Zee Business and his own to verify the authenticity of such messages.