No proposal to divest stake in Lucknow Super Giants, no banker appointed: company clarifies media report
RPSG Ventures has clarified that there is no proposal, plan or decision to divest any stake in Lucknow Super Giants at this point in time.
What this update is
The company has responded to a market rumour. A news report in LiveMint said the RPSG Group proposed to divest 15–20% stake in Lucknow Super Giants and had appointed a banker in connection with it. Listed companies are required to verify and respond to media reports about them, and this update is that response to the stock exchanges.
What the company said
- It "categorically clarifies" that there is no proposal, plan or decision to divest any stake in Lucknow Super Giants at this point in time.
- It clarifies that no banker has been appointed by the company for any such proposed transaction.
- It states that any decision or development requiring disclosure under the applicable regulatory framework would be duly considered and disclosed in accordance with law.
What an investor should take away
The report that triggered this clarification described a possible divestment of 15–20% stake in Lucknow Super Giants. The company's own words are that no such proposal, plan or decision exists at this point in time. The phrase "at this point in time" is the company's own, and it speaks about the present rather than ruling anything in or out for the future.
The company's letter is signed by the Company Secretary, Sayak Chatterjee, and is addressed to the listing departments of the National Stock Exchange of India Limited and BSE Limited, where its scrips are listed under the codes RPSGVENT and 542333 respectively.
How to read it
- A rumour-verification update is a factual statement from the company about a specific news item.
- The only figure mentioned in this update is the 15–20% stake figure that appeared in the media report, and the company's response does not confirm it.
- Investors tracking any future development on this subject would wait for a fresh disclosure from the company rather than act on the media report.
More numbers
- Stake in Lucknow Super Giants that the media report said was proposed for divestment15–20%
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