Bata India Limited (BIL) has been made aware of certain speculative rumors relating to alleged acquisition of substantial number of shares of BIL, purportedly by another international footwear company.
BIL categorically states that it is not aware of any such purported acquisition of substantial shares of BIL and there does not appear to be any basis for such speculation.
BIL is legally obliged to make statutory declarations in a time bound manner to stock exchanges in the event it is intimated of any substantial acquisition of its shares by any entity or entities acting in concert, in terms of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
BIL has not received any such intimation of any such purported acquisition. Therefore, BIL reiterates that the said rumors are speculative in nature and BIL is not aware of any such purported acquisition of its substantial shares.
The shareholders of BIL and the general public are advised to disregard any such rumors and not act on any unsubstantiated or speculative information.