Can companies send whatsapp or sms alert to finish their IPO?

My friend received this on his whatsapp. Is this not illegal @nithin @mohitmehra @ShubhS9 . The merchant bank shouldn’t share investor details

Can you shed more details on this?

who is the sender?

AFAIK I don’t think they do this, unless WhatsApp has been officially declared as a legal way of communication just like email.

The lead manager of the IPO [i.e. the merchant bank appointed in the issue] should not have shared investor details with a 3rd party.

The market maker appointed by the company does not have a role to play in the IPO process. If someone is soliciting you to invest in an IPO over texts or calls, you can report these instances to the exchanges & SEBI.

Here is the process to place a SEBI complaint: Link

You might also want to reach out to the company through their investor’s grievances email address. You will be able to find this on the company’s website. For example, the contact details of ITC’s investor grievance cell are on their website: Link
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