Reliance Industries (RIL), leading private sector enterprise with businesses in the energy and materials value chain, has clarified on media queries on whether the company has bid for a franchise in the Indian Super League.

''Reliance Industries (RIL) or IndiaWin Sports, which owns the IPL franchise Mumbai Indians, wishes to state that we have not bid for a franchise in the upcoming Indian Super League,'' said RIL.

''Indeed, Indian Super League provides a promising opportunity for a sports brand to develop unique connect, brand extension and value creation. However adhering to the highest standard of corporate governance and transparency, and in the larger interest of the sport, the management at IndiaWin Sports had taken a conscious decision not to participate in the bidding process,'' it added.

Shares of the company declined Rs 0.15, or 0.02%, to settle at Rs 944.05. The total volume of shares traded was 105,680 at the BSE (Monday).