United Spirits QIP raises Rs 1,600 crore to pare debt
United Spirits Ltd (USL), the world’s third-largest spirits maker by volumes, has raised Rs 1,615 crore through the placement of shares with institutions at Rs 913.70 each. The issue was launched on October 14 and closed on Wednesday.
The company issued 17.68 million additional shares, accounting for 16.4% of the existing capital, and will take its current share capital to 125.59 million after the issue, which was at a 0.9% discount to the Rs 921.75 closing price on the NSE on opening day.
Fund raising by USL follows the failure of its recent talks to sell a minority stake to Diageo Plc and private equity players.
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To read the ePaper, visit: http://epaper.financialexpress.com
The company issued 17.68 million additional shares, accounting for 16.4% of the existing capital, and will take its current share capital to 125.59 million after the issue, which was at a 0.9% discount to the Rs 921.75 closing price on the NSE on opening day.
Fund raising by USL follows the failure of its recent talks to sell a minority stake to Diageo Plc and private equity players.
To read the full article, click here...
To read the ePaper, visit: http://epaper.financialexpress.com
posted by PressMart Team at
10:29 AM
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