Bombay Dyeing terms “baseless” PE investment in company

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Bombay Dyeing has termed "baseless" and "speculative" newspaper reports that private equity firms were eyeing a stake in the company

"With reference to the news item appearing in a leading financial daily titled "Private equity firms eye 24% in Bombay Dyeing", Bombay Dyeing & Manufacturing Company Ltd has clarified to BSE that "We have no comments to offer on the newspaper report which is totally baseless, speculative and unsubstantiated".

Despite the clarifications, shares of Bombay Dyeing were traded 13 per cent higher on the Bombay Stock Exchange. The stock was last trading at Rs 60.

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