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| Exchange Disseminated Time | With reference to the news item appearing in a leading financial daily titled "Salora international in expansion mode", Salora International Ltd has clarified to BSE that the said news has neither been initiated by the Company nor by any of its officials.
Regarding the expansion of the retail and distribution business expansion, the Company submit that it is not into retailing but one of its group Companies has ventured into the same. The Company is in the market driven expansion mode of its distribution business which is growing in India. The Company has year wise gained growth in its Telecom Division which is into the distribution business.
Further Company has informed that, none of its Company officials have reported to media regarding any Qualified Institutional Placement (QIP) of borrowing loans.
Further as reported in the news article, on some analyst tracking its share, the Company submit that these are not its comments. The Board of Directors of the Company has not considered any proposal of fund raising. As and when there is any material development on the issue of fund raising, the same will be duly intimated in the authorities concerned including the Stock Exchange. |
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