Shares in United Spirits has dipped almost 5% to Rs 2,672 as lenders to the UB-Group owned Kingfisher Airlines have invoked shares of United Spirits that were pledged as collateral.
United Spirits in a regulatory filing said that the lenders have invoked nearly 5 million shares representing 1.24% of total equity capital of the company.
IDBI Trusteeship Services, in its capacity as the lenders’ trustee to Kingfisher Airlines, has invoked 4.94 million shares (3.41% stake) of United Spirits that were pledged with the lenders as collateral by UB Group promoter Vijay Mallya’s companies UB Holdings and Kingfisher Finvest.
Meanwhile, the open offer made by Diageo, the world's largest liquor maker, to acquire additional stake in the company ends today.
The stock opened at Rs 2,798 and touched a low of Rs 2,665 on the BSE. A combined 616,876 shares changed hands on the counter till noon deals on BSE and NSE.
Diageo has made an open offer to public shareholders of United Spirits to acquire an additional 26% stake at Rs 3,030 per share. The offer opened on June 6 and will end today.
Post transactions, the combined stake of UB Holdings and Kingfisher Finvest in the company has declined to 5.65% from 9.06%.
These two group companies held 9.78% stake in United Spirits as of end-March 2014, the shareholding pattern data shows.
United Spirits in a regulatory filing said that the lenders have invoked nearly 5 million shares representing 1.24% of total equity capital of the company.
IDBI Trusteeship Services, in its capacity as the lenders’ trustee to Kingfisher Airlines, has invoked 4.94 million shares (3.41% stake) of United Spirits that were pledged with the lenders as collateral by UB Group promoter Vijay Mallya’s companies UB Holdings and Kingfisher Finvest.
Meanwhile, the open offer made by Diageo, the world's largest liquor maker, to acquire additional stake in the company ends today.
The stock opened at Rs 2,798 and touched a low of Rs 2,665 on the BSE. A combined 616,876 shares changed hands on the counter till noon deals on BSE and NSE.
Diageo has made an open offer to public shareholders of United Spirits to acquire an additional 26% stake at Rs 3,030 per share. The offer opened on June 6 and will end today.
Post transactions, the combined stake of UB Holdings and Kingfisher Finvest in the company has declined to 5.65% from 9.06%.
These two group companies held 9.78% stake in United Spirits as of end-March 2014, the shareholding pattern data shows.
