The media had reports that the Aditya Birla group may buy Apollo Sindhoori Capital Investments Limited for around Rs. 260-280 crores.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Apollo Sindhoori Capital Investments Limited has vide its letter inter-alia stated, "The Board of Directors at their meeting held on 29th October 2007 proposed to bring in additional investment either through strategic/financial investor."
"Towards this the company is in discussion with potential strategic/financial investors including A V Birla. As of now the Company has not firmed up and no agreement has been reached. As and when any development takes place, the Company will intimate the Stock Exchange." -- www.nseindia.com
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
