Tilaknagar Industries is locked in upper circuit of 20% at Rs 56.70 on NSE, on reports that the breweries and distilleries company is in discussions with global giants such as Suntory Holdings and Pernod Ricard to sell 15-20% stake in the company.
The company, maker of the world's second largest selling brandy label -- Mansion House - is planning to de-leverage its balance sheet by raising funds. At present, Tilaknagar Industries has a debt worth Rs 600 crore, the Business Standard report suggests.
A private equity investors as well global leader Beam Global are also in discussions with the company to acquire the stake, added report.
The stock opened at Rs 48 and has seen a combined 431,895 shares changing hands on the counter so far. There are pending buy orders for 22,370 shares on NSE and BSE at 1505 hours.
The company, maker of the world's second largest selling brandy label -- Mansion House - is planning to de-leverage its balance sheet by raising funds. At present, Tilaknagar Industries has a debt worth Rs 600 crore, the Business Standard report suggests.
A private equity investors as well global leader Beam Global are also in discussions with the company to acquire the stake, added report.
The stock opened at Rs 48 and has seen a combined 431,895 shares changing hands on the counter so far. There are pending buy orders for 22,370 shares on NSE and BSE at 1505 hours.
