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| Exchange Disseminated Time 01/02/2017 09:01:26 | Grasim Industries Ltd has informed BSE about the following:
"Grasim would like to clarify that its knowledge of the proposed Idea-Vodafone transaction is restricted to what has been put out by Idea Cellular in the public domain. To recount, Idea has informed the stock exchanges on January 30, 2017 that it has been in preliminary discussions with Vodafone. Regrettably, some of the investors / analysts have raised concerns that to take this process forward, large investments would be made by Grasim into Idea, fuelled by rumors. No such proposal is under evaluation by its Board. The Company denies the rumor that it would be making a large investment into Idea as part of the transaction being contemplated." |
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