The Phoenix Mills Limited has informed the Exchange about Rumour Verification - Regulation 30(11)
PHOENIXLTD · price
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Awaiting price reaction for this filing.
Phoenix Mills has issued an official clarification under SEBI Listing Regulations addressing a rumour circulating on WhatsApp and X that the Ruia family (promoters of Phoenix Mills) is acquiring Mcleod Russel. The company has strongly refuted and rejected this rumour, calling it baseless speculation and misinformation with no truth to it. The filing was made voluntarily as a good governance measure to prevent the spread of false information. Investors have been advised to disregard the misleading social media posts. The clarification has been uploaded on the company's investor relations website.
This is a flat denial of an acquisition rumour that may have triggered speculative trading in the stock. Shareholders should treat this as official confirmation that no such deal is underway, which could ease any rumour-driven volatility but does not change the company's underlying business outlook.