Bata India Ltd (BIL), leading footwear maker, has denied news of a share sale. In a press release on Friday the company said it is not aware of any such purported acquisition of substantial shares of BIL and there does not appear to be any basis for such speculation.
BIL is legally obliged to make statutory declarations in a time bound manner to stock exchanges in the event it is intimated of any substantial acquisition of its shares by any entity or entities acting in concert, in terms of the Sebi (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
BIL has not received any such intimation of any such purported acquisition, Bata management added.
