It was reported that she will close the shop as she is not able to devote much time to her business venture due to her Indian Premier League team Rajasthan Royals.
"Just writing this so it can be on record... WE are not closing down IOSIS my spa. Irresponsible reporting hampers business, hence clarifying, " Shilpa wrote on microblogging site Twitter.
"Kiran Bawa my partner and me have invested a lot of effort, IOSIS spa is our baby, hurts us to see maligning reports, contrary to reports we are doing well, " she added.
Shilpa had ventured into the spa business in 2009 with three outlets in Mumbai.