"If you look at Rakesh's average holding time, I believe you will see the average holding time from his equity investments is over nine years. Whatever chatter (about dilution of stake) is so inconsistent with decades of investment that Rakesh has made. Akasa was the last of the investments that Rakesh made and one of the things that he had the greatest emotional ties to," Dube said, dismissing speculation that the family may exit the airline earlier than expected after Jhunjhunwala died last year.
"There is no truth to that... you can ask the folks at Rare; you don't even have to ask me, and they will say the same thing," Dube added. Rare Enterprises is the Jhunjhunwala family's investment firm.
A message sent to Utpal Sheth, senior partner and CEO at Rare Enterprises remained unanswered till press time.
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