United Spirits, part of Vijay Mallya's UB Group, today said it has raised Rs 1615.6 crore by selling shares to investors.
The company has sold 17.68 million equity shares through qualified institutional placement (QIP) to investors at Rs 913.70 per share, including a premium of Rs 903.70 per equity share.
The company commenced its QIP on October 14 and closed the issue on October 20, the company said in a statement to the Bombay Stock Exchange today. The issue was 0.9 per cent discount to the closing price of Rs 921.75 on the closing price of opening day.
The proceeds of the issue would be used to repay the debt taken for the acquisition of Whyte and Mackay Group and other capital expenditure, the company said.
