India's Rashi Peripherals falls as independent director resigns, cites governance concerns

Rashi Peripherals

25/08/2026 08:40

** Shares of Indian ICT hardware distributor Rashi Peripherals RASI.NS fall as much as 18.8% to 703.70 rupees; last down 14.5%
** Biggest intraday pct drop on record
** Dell DELL.N, HP HPQ.N distribution partner says independent director Anil Khandelwal resigned on Monday
** In his resignation letter, Khandelwal expressed concerns over governance issues in company
** Khandelwal says due diligence for a proposed acquisition was conducted by firms where two independent directors, including audit committee chairman, hold senior partner positions
** Adds the directors did not recuse themselves from the process, raising concerns over objectivity
** Khandelwal also flagged concerns about Nomination and Renumeration Committee's role in director selection and senior management compensation
** More than 1.2 mln shares change hands by 12:54 PM IST, 2.4x the 30-day avg
** Stock up 101% YTD
     

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))