Central Depository Services (India) Limited (CDSL) has dismissed rumours circulating on social media about an authorised share sale, labelling it as fraudulent.
What Happened: A letter addressed to the National Stock Exchange of India Ltd. on Monday revealed that CDSL has come across fictitious information being disseminated on social media platforms concerning a supposed share sale authorised by the company. The company has unequivocally denied any such developments and is currently reporting the matter to the appropriate authorities.
CDSL further advised investors to depend solely on verified sources for any communication, including announcements made on the stock exchange by CDSL. It urged investors to ignore market speculation or rumours and to make informed decisions based on factual information.
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The company has reassured that it is taking the necessary measures to address this issue and has appealed to the public to remain alert about such fraudulent claims.
CDSL is set to report its earnings on August 3. In July, the company approved the issue of bonus shares in the ratio of 1:1, meaning an investor would get one share for every single share they hold in the company.
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