The Exchange has sought clarification from VIP Industries Limited with respect to recent news item captioned VIP Industries promoters in talks to sell stake in company, reports CNBC-TV18; shares rise 3%. The response from the Company is attached.
VIPIND · price
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NSE asked VIP Industries to clarify a Moneycontrol/CNBC-TV18 report that its promoters were in talks to sell their stake, following a 3% rise in the share price. The company responded that it and its promoters 'explore strategic opportunities with various stakeholders from time to time,' but stated that no event has occurred which warrants disclosure under SEBI's Regulation 30 at this stage. The company also said it is not aware of any undisclosed information that could explain the trading activity. The company refused to comment on the impact of the news article on the business.
The response is a non-denial — it neither confirms nor rules out a promoter stake sale, which may keep the stock volatile on speculation. Shareholders should monitor for any future announcement confirming or denying a transaction, as a formal promoter exit would be material to the stock.