Wockhardt clarifies on news item of proposed stake sale; Stock ends lower

The present news information detailing the deal/ parties to the deal is purely speculative in nature, the company said.

Oct 11, 2021 03:10 IST India Infoline News Service

Wockhardt Limited clarified to exchanges Monday on a news item appearing in certain Media/Publications last week pertaining to the proposed stake sale by Wockhardt Limited.

The company said it is in the process of evaluating/ negotiating various fundraising options, including by way of further issue of equity shares, as part of its normal course of business.

The above negotiations are in their initial stage and, if found feasible, will be subject to further approval by the Board of Directors of the Company before finalization. Therefore, the present news information detailing the deal/ parties to the deal are purely speculative in nature.

It further said, since no definitive agreement or arrangement have been entered into by the company with any party, at present there is no information that can be announced by the company to the Stock Exchanges in this regard.

“Since the article is speculative in nature, there will be no material impact of this article on the company,” company said.

Wockhardt Ltd ended at Rs487.45 per piece down by Rs19.35 or 3.82% from its previous closing of Rs506.80 per piece on the BSE.

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