Rajesh Exports chief disowns LIC link as SEBI heat sinks stock 14%
Chairman Rajesh Mehta says promoters have no ties to LIC, which holds a 10.8% stake built via open-market buys over 20 years. Stock has fallen 14% since June 3, hitting a Rs 94.50 lower circuit, as SEBI scrutiny intensifies around a Rs 15.15 lakh crore allegation.
What happened
Rajesh Exports chairman Rajesh Mehta distances promoters from LIC's 10.8% stake amid SEBI regulatory heat and a 14% stock slide, insisting LIC bought shares
Key facts
- 10.80% LIC stake
- 14% share price drop since June 3
- Rs 94.50 lower circuit
- Rs 15.15 lakh crore SEBI allegation
Why this matters
Pause any equity-linked deal talk and prep a clean disclosure pack on promoter holdings and LIC's 20-year open-market accumulation to neutralize the regulatory narrative before re-engaging counterparties.