Dyeing today refuted reports that the Wadia Group was contemplating selling a
stake to private equity funds, to finance the expansion of its real estate, retail
and aviation businesses.
Wadias own approximately 43 per cent in their flagship venture, Bombay Dyeing,
followed by institutions holding just over 30 per cent. The public holding in
the company is 20.5 per cent, while corporate and other holdings are around own
4.2 per cent and 2.1 per cent, respectively.
newspaper report is totally baseless, speculative and unsubstantiated," Bombay
Dyeing said. "We may add that the newspaper has opted to go ahead with the
story despite a categorical denial from the company," it added.
paper had said that the Wadias were looking at offloading a little less than 15
per cent in Bombay Dyeing to private equity funds, though said that the company
had denied it and Blackstone''s India head was non-committal.