Cholamandalam Investment and Finance Company Limited (BSE:511243) of Murugappa Group Ltd. said on March 9, 2023 it has no plans to acquire a stake in Aptus Value Housing Finance India Limited (NSEI:APTUS). “We wish to clarify that Chola has not expressed any interest either in the past or present in acquiring Aptus Value Housing Finance,” said the company in a statement after media reports that it plans a takeover. According to the reports, the two companies started talks after Aptus promoter M Anandan failed to pick a successor in the family to run the business.

“We hereby confirm that the Company is not part of any such negotiations/events as mentioned in the report,” said Aptus in a statement on March 8, 2023. Anandan was earlier with the Murugappa Group.