Piramal Enterprises Ltd reply to clarification sought by the exchange

The Exchange had sought clarification from Piramal Enterprises Ltd with respect to news article appearing in The Economic Times on March 17, 2015 titled "Piramal may buy Apollos Health Super HiWay."

Piramal Enterprises Ltd replied stating "We write to clarify that as part of its growth strategy, the Company continually looks at strategic initiatives including viable investment opportunities. All of these are channelled towards achieving operational excellence and growth.

So far as the captioned news article is concerned, the Company’s proposed investment in Health Super HiWay is subject to several pre-conditions, only upon fulfillment of which, the investment would be made. Further, such investment would be made in a phased manner. We shall intimate the stock exchanges immediately upon the first phase of investment getting concluded, at which time, we shall also communicate the actual consideration for the same."

Source : BSE - >www.bseindia.com

Published on March 18, 2015
TOPICS
This article is closed for comments.
Please Email the Editor