Source: Exchange Filings of Manappuram Finance Ltd
Manappuram Finance Limited has informed the Exchange that The Management of Manappuram Finance Limited reiterates there is no truth in recent stories of a speculative nature appearing in the media to the effect that the company’s promoter, Mr. V.P. Nandakumar, is looking to sell his stake in the company or is on the verge of doing so.
This statement is being released in the specific context of a news report telecast by the television channel ET NOW on 21 December 2017 mentioning HDFC Bank, Edelweiss and IDFC Bank as being in the fray to acquire the company.
No prices for guessing what happened to the stock price yesterday when ET Now “broke” this “news”