Explanation – Unpublished Price-Sensitive Information (UPSI) refers to any information related to a company or its securities that is not publicly available and, if made public, is likely to have a significant impact on the price of the company’s securities. Examples of UPSI include financial results, dividends, changes in capital structure, mergers and acquisitions, delistings, disposals, expansions of business, and changes in key managerial personnel. The Securities and Exchange Board of India (SEBI) regulates UPSI under the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Source: The Hindu