The Vijay Mallya-owned UB group has further revised its open offer price for Herbertsons' stake to Rs 215 a share from Rs 200 per share.

The revised offer has been made through group firms McDowell & Company, Phipson Distillery (acquirers) and United Breweries Holdings, as persons acting in concert.

The total outgo on the offer will amount to Rs 92.45 crore (Rs 924.5 million). UB's move follows a revised offer price made by Kishore Chhabria at Rs 210.74 per share, which also includes the interest payable to acquire an additional 20 per cent stake.

The Securities Appellate Tribunal had in August asked Chhabria to make an open offer for 20 per cent to the shareholders of Herbertsons.

Following which, Chhabria made an open offer to acquire 1.904 million equity shares (representing 20 per cent of the paid-up capital of Herbertsons) at Rs 90.50 a share.

Subsequently, the UB group made an counter offer to acquire to acquire 4.3 million fully paid equity shares of Herbertsons, representing 45.2 per cent of its outstanding equity capital, at Rs 200 a share.

The paid-up equity share capital of Herbertsons is Rs 95.221 million comprising 9.522 million equity shares of Rs 10 paid up each.

Since 1972, the UB group has been involved with the management and control of Herbertsons, makers of the super selling Bagpiper whiskey.

The UB group currently holds a 28.55 per cent in Herbertsons, while Kishore Chhabria holds a 49 per cent stake in the company.