Devyani International Limited has informed the Exchange about Rumour Verification - Regulation 30(11)
DEVYANI · price
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Awaiting price reaction for this filing.
Devyani International has issued a clarification in response to media reports and news articles speculating about a potential merger between itself and Sapphire Foods India Limited. The company stated that it routinely evaluates various strategic opportunities for growth and shareholder value enhancement in the ordinary course of business. However, at this stage, there is no material event or information that warrants disclosure under Regulation 30 of the SEBI Listing Regulations. The company has committed to making appropriate disclosures as and when required by law.
This is a neutral-to-slightly-negative clarification as it neither confirms nor explicitly denies the merger rumour, which may have already driven the stock price. Investors should not assume a deal is imminent, but should remain watchful for any future official announcement from either company.