The company issued the clarification during trading hours today, 8 January 2014.

Meanwhile, the BSE Sensex was up 8.33 points, or 0.04%, to 20,701.57.

On BSE, so far 21,000 shares were traded in the counter, compared with an average volume of 3,081 shares in the past one quarter.

The stock rose 4.92% at the day's high of Rs 2,314. It fell 2.18% at the day's low of Rs 2,157.30. The stock hit a 52-week high of Rs 2,600 on 9 January 2013. The stock hit a 52-week low of Rs 1,872 on 13 November 2013.

The stock had outperformed the market over the past one month till 7 January 2014, rising 12.31% compared with the Sensex's 1.44% fall. The scrip had also outperformed the market in past one quarter, gaining 5.37% as against Sensex's 4.01% rise.

The mid-cap company has an equity capital of Rs 32.59 crore. Face value per share is Rs 10.

A media report suggested that investors have been speculating about a possible open offer and delisting of Gillette India. The firm's shares have risen sharply in the past few days on high volumes on buzz that such an offer is imminent. Two bankers have apparently been appointed to do the process, the report said.

Shares of Gillette India rose 9.04% in the preceding three trading sessions to Rs 2,205.45 on Tuesday, 7 January 2014 from a recent low of Rs 2,022.65 on 2 January 2014.

However, Gillette India clarified to the bourses that it has no plans for an open offer or delisting. The said news regarding possibility of an open offer by the company or delisting of the company is untrue. "In fact, the company has recently successfully completed a sell-down of shares to deliver compliance with SEBI's minimum public shareholding requirement," Gillette India said in a statement.

As on 30 December 2013, promoters held 75% in Gillette India.

Net profit of Gillette India declined 39.03% to Rs 15.14 crore on 15.64% rise in net sales to Rs 387.17 crore in Q1 September 2013 over Q1 September 2012.

Gillette India is a leading company in the personal grooming segment.