Mahashian Di Hatti Pvt. Ltd. (MDH) has refuted the reports of a possible sale of its business to FMCG maker Hindustan Unilever Limited (BSE:500696). The reports suggested that MDH promoters are in talks to sell their business to HUL.

Terming such reports as "completely false, fabricated and baseless", MDH in a message posted on its official Twitter account urged people "not to believe such rumours". "MDH Pvt Ltd. is a legacy, which Mahashay Chimi Lal Ji and Mahashay Dharampal Ji nurtured all their lives, and we are committed to taking that legacy forward with all our heart," said a message from MDH Chairman Rajeev Gulati. FMCG major HUL, which owns popular household brands such as - Lux, Lifebuoy, Surf Excel, Rin, Wheel, Ponds - declined to comments on the issue.

"We do not comment on market speculation," said an HUL spokesperson. A report had claimed HUL is in talks with the Delhi-based Mahashian Di Hatti Pvt. Ltd. (MDH) to buy a majority stake.

It had further claimed that the value of this deal may be anywhere between INR 100.00 to INR 150.00 billion. However, MDH declined any such considerations.