Srei Infrastructure Finance jumps 4% after clarification on media report

The company clarifies that the news item captioned ‘SREI’s Rs35,000cr loan may be classified as NPA has ‘hearsay’ report.

Sep 15, 2021 10:09 IST India Infoline News Service

Srei Infrastructure Finance Limited issued a clarification to exchanges referring to the recent news item which appeared in the “Website - www.moneycontrol.com” dated September 13, 2021, captioned “SREI’s Rs35,000cr loan may be classified as NPA: Report”.

“The news item as referred to appears to be hearsay.” the company said. The company i.e. Srei Infrastructure Finance Limited has no information from its Bankers regarding the classification of loans availed by Srei Group as NPAs. Therefore, the company cannot make disclosures merely on the basis of “hearsay news”.

Further, the Company does not have any information / announcement which require disclosure under SEBI Listing Regulations.

“Since this article is merely on the basis of “hearsay news”, there is no material impact on the company,” it said in a filing.

“The company keeps the exchanges informed about the material events, information etc. including price sensitive information in accordance with the regulatory requirements. We continue to endeavour to maintain highest levels of Corporate Governance practices and disclosure standards,” it added.

At around 10.19 am, SREI Infrastructure Finance Ltd was trading at Rs8.70 per piece up Rs0.33 or 3.94% from its previous closing of Rs8.37 per piece on the BSE.

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