UB Group promoter Vijay Mallya along with his various promoter classified companies has pledged 90.85 per cent of their holding in the flagship United Spirits.
The promoters totally hold 33.22 per cent in the Rs 3,500 crore United Spirits, India's leading alcohol beverage company. The company is actively in discussion with Diageo, the global leader in spirits, to offload a state in United Spirits. United Spirits has a debt of Rs 7,100 crore and is leveraged nearly three times.
In a related disclosure, the UB Group promoters have said that they have pledged 66.10 per cent of their holding in Kingfisher Airlines. The promoters hold 43.80 per cent in this airline which has debt of Rs 5,300 crore and is leveraged almost 12 times.
The promoters of UB Group also have disclosed that they have pledged 13.30 per cent of their total holding of 9.97 per cent in United Breweries Limited, India's largest brewing company.
