Bombay Dyeing rubbishes reports on stake sale to Blackstone
13 Sep 2007
The Wadias own approximately 43 per cent in their flagship venture, Bombay Dyeing, followed by institutions holding just over 30 per cent. The public holding in the company is 20.5 per cent, while corporate and other holdings are around own 4.2 per cent and 2.1 per cent, respectively.
"The newspaper report is totally baseless, speculative and unsubstantiated," Bombay Dyeing said. "We may add that the newspaper has opted to go ahead with the story despite a categorical denial from the company," it added.
The
paper had said that the Wadias were looking at offloading a little less than 15
per cent in Bombay Dyeing to private equity funds, though said that the company
had denied it and Blackstone''s India head was non-committal.
