Rajesh Exports chairman distances promoters from LIC's 10.8% stake as stock slides 14%
Chairman Rajesh Mehta said promoters have no link to LIC's 10.8% holding, accumulated via open-market buys over 20 years. Stock hit Rs 94.50 lower circuit amid regulatory scrutiny, down 14% since June 3, with Mehta arguing retail shareholders have benefited from LIC's long-term accumulation.
Rajesh Exports chairman Rajesh Mehta distanced promoters from LIC's 10.8% stake accumulation amid regulatory pressure and a 14% stock slide, saying LIC bought from the open market over 20 years and retail public has benefited.