Description

BSE circular containing clarifications from Shriram Finance Limited and Vodafone Idea Limited denying accuracy of news articles and addressing price movements in their securities.

Summary

BSE issued a circular containing clarifications from two companies - Shriram Finance Limited and Vodafone Idea Limited - in response to news articles published on November 3, 2025. Both companies were responding to rumour verification letters from BSE and NSE under Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Points

Shriram Finance Limited (Scrip Code: 511218, NSE: SHRIRAMFIN)

  • Categorically denied the news item published on moneycontrol.com dated November 3, 2025 as factually incorrect
  • Confirmed that the increase in market price of equity shares on November 3, 2025 was market driven
  • Management stated they have no control or knowledge of reasons for the price increase
  • Company had previously issued clarification on October 1, 2025 on the same subject matter
  • Reiterated commitment to good corporate governance practices

Vodafone Idea Limited (Symbol: IDEA, Scrip Code: 532822)

  • Clarified news article from news18.com titled “US PE Giant TGH In Talks To Invest Up To $6 Billion In Vodafone Idea”
  • Addressed material price movement in the scrip on November 3, 2025
  • Company stated it keeps exploring various opportunities to raise funds within Board authorizations
  • Clarified that no proposal is currently being considered by the Board requiring disclosure as reported by media
  • Reiterated commitment to comply with SEBI Listing Regulations and inform stock exchanges of price sensitive information

Regulatory Changes

No regulatory changes announced. This is a standard disclosure under existing Regulation 30(11) of SEBI LODR regarding rumour verification.

Compliance Requirements

  • Companies must respond to rumour verification letters from stock exchanges regarding news articles and price movements
  • Companies must clarify accuracy of media reports and provide explanation for unusual price movements
  • Material information requiring disclosure must be promptly disseminated to stock exchanges
  • Companies must maintain good corporate governance practices in their disclosures

Important Dates

  • November 3, 2025: Date of rumour verification letters from BSE and NSE to both companies
  • November 3, 2025: Date of clarifications issued by both companies
  • November 3, 2025: Date of observed price movements in both securities
  • October 1, 2025: Date of previous clarification by Shriram Finance on same subject matter

Impact Assessment

Market Impact: Medium - Both companies experienced price movements requiring regulatory clarification. The denials may affect investor sentiment and trading patterns in the short term.

Investor Impact: Investors in both securities received official clarification that news reports were either factually incorrect (Shriram Finance) or premature/speculative (Vodafone Idea), helping them make informed decisions.

Operational Impact: Low - No operational changes for either company. Both continue normal business operations while maintaining disclosure obligations.

Compliance Impact: Standard compliance activity under Regulation 30(11) demonstrating the regulatory framework’s effectiveness in addressing market rumors and ensuring transparent communication.

Impact Justification

Routine clarifications under Regulation 30(11) addressing market rumors and price movements for two listed companies