Reports Of STFC Acquisition Of Bank Speculative: STFC

The Shriram Group on Friday denied reports that it may submit an expression of interest to acquire a bank under the privatisation process for the bank.

"We wish to deny categorically that the news reports of an acquisition by STFC of a Bank is speculative in nature. The reports are inaccurate, and we are not, nor have we been, in merger talks with any bank.

In this regard, we would like to state that there is no information available with the Company as of today, which is required to be reported under extant SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and which may have a bearing on the stock price of the Company.

We wish to assure you that the Company is committed to complying with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), and any information likely to have a bearing on Company shares will be disclosed to the Stock Exchanges in compliance with the Listing Regulations," the company said in a statement.