The company, owned by the UB Group, had been relying on internal group reserves and debt to manage its operations over the past two years and this infusion is expected to fuel its sustained growth.
In a move that could change the sweepstakes in the Indian beer market, brewing giant SABMiller plans to acquire rival Scottish & Newcastle in a $12.8 billion deal, the Sunday Express said on Sunday.
The offer, which is being managed by Edelweiss Capital, was scheduled to open on Wednesday and close on August 13.
The acquisition is likely to be followed by the merger of Shaw Wallace & Company with group flagship United Spirits.
Shaw Wallace & Company Ltd, acquired by UB Group, would be merged operationally with the spirits business of United Spirits, chairman of the company Vijay Mallya said.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
The world's largest spirits company Diageo is upping its play in India, even as the home-grown UB Group sets out to conquer mature global markets.
UB Group chairman Vijay Mallya and Airbus chief operating officer John Leahy signed an MoU to this effect at the 47th International Paris Air show on Wednesday.
He's also enjoying a new level of corporate respect.
Vijay Mallya-led UB Group is all set to meet the month-end deadline for payment of Rs 400 crore (Rs 4 billion) balance toward 26 per cent stake it had picked in Deccan Aviation, the promoter of low-cost carrier Air Deccan.
After razing his ancestral bungalow, housed in an expansive 4.5-acres of prime location in the central business district of Bangalore, Mallya's attempt to unlock value in the land by building the luxury KingfisherTowers has been stalled.
The lenders, led by State Bank of India (SBI), are due to inform the Supreme Court of their decision on the offer at a hearing on Thursday.
The UB group may introduce a format of lounge bars where it will sell multi-branded merchandise and invest nearly Rs 8-10 crore (Rs 80-100 million) in each of the stores.
The group is planning to make a foray in this hitherto unorganised sector by establishing a greenfield still (distilleries dedicated to cashew and coconut Feni) in Goa and to promote the product all across the country.
Capt Gopinath, in a deperate bid to fend off a possible auction of his prime residential property in Bangalore by State Bank of India, which had earlier issued notices to sell his pledged properties to recover as much as Rs 259 crore (Rs 2.59 billion), has struck a deal with Sobha Developers to raise funds.
Vijay Mallya's United Breweries Holdings has made an open offer for an additional 20 per cent stake in Air Deccan in which it has already acquired 26 per cent for Rs 550 crore (Rs 5.5 billion).
UB Group Chief Vijay Mallya on Tuesday said the Group would raise a total of $400 million over the next one year, which includes an IPO for its aviation business, Kingfisher Airlines.
Market regulator SEBI -- the Securities and Exchange Board of India -- had also given its consent to the agreement between the parties but had put certain conditions.
Mohun Bagan general secretary Anjan Mitra demanded that the court-appointed special officers convene a tripartite meeting immediately to sort out the imbroglio.
The Supreme Court on Tuesday issued notice to the market regulator Securities and Exchange Board of India on the issue of settlement reached between Vijay Mallya's UB Group and Chhabria Group
Australia's Trade Commissioner to India Elizabeth Sullivan has said that several food and beverages company in her country are keen to enter the Indian market.
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