Indian Broker Avendus in Hot Water After Botching Share Sale (1)

Indian broker Avendus Spark is under fire after botching a share sale of Clean Science & Technology Pvt., in what could be one of the country’s biggest fat-finger mistakes in years.

Avendus Spark was only authorized to sell a 24% stake in the chemical firm through block trades but placed sell orders for a “significantly higher number of shares,” Clean Science said in a statement early Thursday. In a statement after the close of markets, Avendus Spark admitted to an execution error in the trade and that it was being “remediated” in line with exchange regulations. There ...