DLF Ltd said it had not sold the 2nd phase of its Pune IT Park to private equity firm Blackstone.
DLF was responding to a query raised by the National Stock Exchange of India after the Hindu Business Line carried an item titled ‘Has DLF sold Pune IT Park 2nd Phase to Blackstone’.
However, said DLF, it does keep exploring various opportunities to enhance shareholder value, “which includes M&A, divestment of assets adn fund raising opportunities.”
No transaction has been done with Blackstone with regard to the above property, DLF said.
Indian stock exchanges are seek clarification from listed companies if news of big developments first appear in media. According to listing rules, any material developments must first be disclosed to investors using the Exchange notice board before disseminated using any other platform.
Many companies now refuse to give “off the record” information to media on deals as the publication of such news will inevitably lead to an exchange query on the same day. Any material news can drive the share prices up or down, depending on the nature of the development.
DLF added: “We would like to humbly submit that seeking clarifications in each and every news item should be avoided by the exchange.”