RRP Semiconductor Shares Soar 66,500% Amid Market Buzz, Turning Rajendra Chodankar into a Billionaire

RRP Semiconductor’s 66,500% Surge Turns Rajendra Chodankar Into Billionaire Amid Market Frenzy

The Indian stock market has seen its share of surprises, but few have matched the jaw-dropping rise of RRP Semiconductor Ltd. Over the past 18 months, the once-obscure firm has surged a staggering 66,500 percent, transforming a little-known investor, Rajendra Kamalakant Chodankar, into one of India’s newest billionaires.

On October 30, RRP Semiconductor shares touched a new peak of ₹10,673 apiece on the BSE, gaining 2 percent intraday and pushing the company’s market capitalization beyond ₹14,541 crore. Chodankar, who owns 74.5 percent of the company’s equity—about 1.02 crore shares—has seen his paper wealth soar past ₹9,000 crore.

What makes this story even more intriguing is that Chodankar isn’t listed as a promoter. Instead, he appears quietly in the retail shareholder category, a detail that has only deepened the mystery surrounding this extraordinary rally.

Rumour-Fuelled Rally Sends Shares Soaring

The meteoric climb of RRP Semiconductor has not been underpinned by strong financials or groundbreaking technology, but rather a frenzy of market rumours and speculative chatter on social media platforms.

Stories spread quickly—claims that cricket icon Sachin Tendulkar had invested in the firm, or that the Maharashtra government had allotted 100 acres of land to the company. Both claims have since been publicly denied by RRP Semiconductor, which clarified that Tendulkar has no association with the firm and no land allocation has taken place.

Another narrative hinted that the company had secured government-backed semiconductor orders worth several crores under India’s chip mission. The company dismissed these reports as baseless, even admitting that its fundamentals don’t justify such an astronomical share price rise.

In a statement, RRP Semiconductor described the market activity as “unethical manipulation”, revealing that legal proceedings are being initiated against individuals and entities spreading false information online.

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Thin Trading Volume, Sky-High Valuation

Behind the dramatic rise lies an equally unusual trading pattern. Nearly 99 percent of RRP Semiconductor’s shares are locked in until March 31, 2026, leaving only around 4,000 shares available for active trading on the exchanges.

This razor-thin public float has created extreme price volatility, turning the stock into a speculator’s paradise. The limited supply of tradable shares has amplified price swings, allowing even small trades to move the market significantly.

Market analysts say such dynamics often inflate valuations artificially, especially when combined with social media buzz and retail investor enthusiasm. “This kind of rally without fundamentals is a textbook example of how illiquid stocks can be driven by momentum rather than performance,” said a Mumbai-based market strategist.

From Quiet Director to Billionaire Shareholder

RRP Semiconductor operates from a modest industrial address in Navi Mumbai, far from the glamour of India’s tech corridors. Company filings reveal that Chodankar was appointed as a non-executive additional director, and had earlier extended loans worth ₹8 crore to the firm during FY25 at 8 percent interest.

In May 2024, shareholders approved a preferential issue of over one crore shares to Chodankar at ₹12 per share, giving him control of 74.5 percent of the company’s equity. Around ₹6 crore of this investment was offset against his earlier loans, with the remainder paid in cash.

That small-ticket investment has now turned into one of the most sensational wealth stories in Dalal Street history—a windfall unmatched even by the biggest IPO success stories.

Rebranding and Reinvention: From Trader to Chipmaker

Before its meteoric rise, RRP Semiconductor was known as G D Trading & Agencies, a modest firm dealing in electronic components. The company rebranded itself in early FY25, aiming to align with India’s semiconductor mission and the government’s Production-Linked Incentive (PLI) scheme for chip manufacturing.

The new name gave it a futuristic appeal, positioning it within one of India’s most high-profile emerging industries. Its corporate filings reference the country’s growing electronics demand, policy support for domestic chip production, and supply chain diversification as reasons for optimism.

However, the company itself admits that the semiconductor business carries high risk, citing challenges like volatile supply chains, rapid technology cycles, and capital-intensive R&D—factors that have humbled even global chip giants.

Numbers Tell a Different Story

Strip away the market euphoria, and RRP Semiconductor’s financials remain modest.
The company’s revenue jumped to ₹31.6 crore in FY25 from ₹38 lakh a year earlier, and net profit rose to ₹8.47 crore from a minor loss of ₹1.7 lakh.

But the momentum appears to have faded in FY26. The June 2025 quarter saw no reported revenue, compared to ₹6 crore in March 2025, even though losses narrowed to ₹29 lakh from ₹1.6 crore.

Despite these subdued numbers, the firm’s valuation has skyrocketed, creating a stark contrast between business performance and market perception.

Caution Amid Euphoria

Market regulators and analysts are watching the RRP Semiconductor episode closely, viewing it as a test case for India’s market surveillance system. The Securities and Exchange Board of India (SEBI) has stepped up scrutiny of penny stocks exhibiting abnormal price action and has urged investors to avoid speculative trades without fundamentals.

“Such dramatic rallies often end painfully for retail investors,” said a senior fund manager. “It’s crucial to separate hype from genuine value creation.”

Conclusion

The story of RRP Semiconductor and Rajendra Chodankar captures both the possibilities and perils of India’s booming equity markets. While the company’s meteoric rise has minted a new billionaire, it has also reignited debate about market speculation, transparency, and investor protection.

As regulators dig deeper and rumours fade, what remains to be seen is whether RRP Semiconductor can justify its trillion-rupee valuation with real innovation—or remain a cautionary tale in India’s market history.

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