United Spirits Ltd (USL) has pledged its entire 3.21 per cent stake in group firm United Breweries for an undisclosed amount.
In a regulatory filing, United Breweries said United Spirits has pledged 85 lakh shares, representing 3.21 per cent stake, in the company on January 1.
However, the financial details were not disclosed.
At the end of September quarter, United Spirits held 3.21 per cent shareholding in United Breweries.
Shares of United Breweries fell 2.32 per cent to close at Rs 905.05 on the BSE.
Both companies are part of liquor baron Vijay Mallya’s diversified UB Group, whose aviation venture has been grappling with tough times for many months.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.