SAL Steel and Shah Alloys has refuted rumours of a possible buyout by Jindal Stainless. Speaking to CNBC-TV18, the company's Chairman and MD, Rajendra Shah, said that the stake sale news going around in the market were surprising and shocking.
Earlier, Jindal Stainless CEO Arvind Parakh, though declining to comment on the buyout, had said that the takeover would depend on lenders and promoters of the companies. Shah told CNBC-TV18 that lenders cannot decide to sell the company to anyone. Below is a verbatim transcript of his interview on CNBC-TV18. Also watch the accompanying video. Q: Any truth to that, that Jindal Stainless may be looking to buyout your company? A: There is nothing like the news that is being spread. I am really surprised and shocked to know that there is this kind of news in the market. Q: One reason is probably in the market is the fact that your company is BIFR and the indication seems to be that itDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
