Subhiksha denies talks with Reliance

New Delhi, Dec 7 (UNI) Chennai-based discount retail chain Subhiksha today denied reports that it was having any discussions with Reliance Industries (RIL) for its acquisition by Mukesh Ambani's retail arm.

''We categorically deny any discussions with Reliance.

Speculations or claims on discussions between the companies remain a baseless,'' Subhiksha Trading Services Managing Director R Subramanian said in a statement.

Subhiksha is currently in expansion mode, with a planned outlay in Phase I of Rs 300 crore for the first 600 stores in five states, he added.

The retail chain had earlier announced that it will open 60 more outlets in the national capital in the next few months to add to its 100 stores in operation.

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