United Breweries on Wednesday said private lender YES Bank has invoked 19 lakh of its shares worth ₹156 crore which were pledged by McDowell Holdings, a unit of Vijay Mallya-led UB Group.
The shares amounting to 0.71 per cent stake in UBL were invoked on September 15, the company said in a BSE filing.
Based on that day’s closing price of ₹821.10 apiece, the UBL shares are worth ₹156 crore.
McDowell Holdings had 81.22 lakh shares of UBL which accounted for 3.07 per cent of the total shareholding of the company. It had pledged 64.51 lakh shares amounting to 2.44 per cent of UBL’s share capital.
Shares of United Breweries closed 1.72 per cent up at ₹889.40 on the BSE.