Bridge India Fund: Key Investor in Rajesh Exports Amid SEBI Investigation
All about Bridge India Fund - the Mauritius investor with 8.5% stake in Rajesh Exports
Moneycontrol
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Bridge India Fund, a Mauritius-based foreign portfolio investor, holds an 8.46% stake in Rajesh Exports Ltd amidst an investigation by SEBI into alleged inflated revenues of ₹15.15 lakh crore. The fund's concentrated portfolio includes significant investments in the diamond and jewellery sector, raising concerns about governance and financial practices.
- 01Bridge India Fund owns 8.46% of Rajesh Exports, making it the largest non-promoter shareholder.
- 02The fund's portfolio is valued at approximately ₹1,800 crore, with a focus on diamond and jewellery companies.
- 03Life Insurance Corporation of India (LIC) holds a 10.8% stake in Rajesh Exports, maintaining its investment despite governance concerns.
- 04SEBI's investigation alleges that Rajesh Exports inflated revenues by ₹15.15 lakh crore, mostly linked to its subsidiary Valcambi SA.
- 05Rajesh Exports' stock has declined over 78% from its five-year peak, trading around ₹104-109 as of June 4, 2026.
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Bridge India Fund, a Mauritius-based foreign portfolio investor, holds an 8.46% stake in Rajesh Exports Ltd, the largest non-promoter shareholding in the company. This comes as the Securities and Exchange Board of India (SEBI) investigates allegations of inflated revenues amounting to ₹15.15 lakh crore at Rajesh Exports. The fund's portfolio, valued at approximately ₹1,800 crore, is heavily concentrated in the diamond and jewellery sector, with Rajesh Exports being one of its largest holdings. Alongside Bridge India Fund, the Life Insurance Corporation of India (LIC) retains a 10.8% stake in Rajesh Exports, despite ongoing concerns regarding the company's governance and financial practices. SEBI's interim order, issued on June 3, 2026, claims that nearly 99.8% of reported turnover lacks verifiable documentation. The stock has seen a significant decline of over 78% from its five-year high, reflecting investor apprehension regarding the company's financial health and governance standards.
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The investigation into Rajesh Exports could affect investor confidence and stock performance, impacting shareholders and market perceptions of governance in the sector.
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