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.
An open offer for acquisition of additional stake in a listed company can move forward only after issuance of 'observations' by Sebi.
In a major clampdown for non-compliance of Listing Agreement, top exchanges BSE and NSE announced suspension of trading in shares of Kingfisher Airlines and another group firm, UB Engineering, from next month.
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).
The upcoming Union Budget to be presented on February 1 is likely to assume a nominal gross domestic product (GDP) growth between 10 and 10.5 per cent for FY26, a Business Standard poll of 10 economists showed. The first advance estimates released by the National Statistics Office (NSO) had estimated a nominal GDP growth of 9.7 per cent for FY25. Nominal GDP, calculated at current market prices, factors in the effect of inflation. It is used as the base to calculate crucial macroeconomic indicators, such as fiscal deficit, revenue deficit, and debt-to-GDP ratio.
Last Saturday, USL board asked its Chairman Vijay Mallya to quit.
Creditors are fighting to get back Rs 600 crore, KFA employees not paid for months.
With this, Heineken's stake has risen from 39% to 42.2%.
The agreement says UB Group and Adventz will have the right of first refusal over each other's shares.
Over the next three - six months, UBS believes earnings will be the main driver for EM equities outperformance.
Sanjay Malhotra takes charge as the 26th RBI governor at a time when headline retail inflation has shot up to 6.2%.
IDBI Trusteeship Services, in its capacity as the lenders' trustee to Kingfisher Airlines, has invoked a little over 4.93 mn shares worth Rs 1,300 crore.
First case filed after new norms come into force, NCLT admits plea.
Enforcement Directorate to approach court to attach industrialist's properties worth Rs 4,000 crore
Sebi to look into disclosure, other lapses in the Vijay Mallya, Diageo case.
Diageo asks Mallya to quit USL board; alleges fund diversion
Kingfisher Airlines owed Indian banks Rs 7,000 crore as of January.
UB Group Chairman Vijay Mallya's grip on United Breweries slipped further on Thursday, after lenders to UB Group companies offloaded a part of the stake in Kingfisher beer that was pledged to them.
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
Banks tighten hold on Mallya for defaults on KFA loans
Vijay Mallya, during the past two days, had ceded a marginal stake in it, allowing Heineken to be the single largest shareholder.
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters.
United Spirits Limited clocked sales volume of 100 million cases for the fiscal ended March 31, 2010, becoming the world's second largest spirit company by volumes, UB group chairman Dr Vijay Mallya,announced on Wednesday.
As per the latest shareholding pattern data of the company, foreign institutional investors held 45.81 per cent stake in Vijay Mallya-led UB group firm United Spirits Ltd as on December 31.
Though the UB Group chairman didn't name anybody, some of these associates could be the owners of Balaji Distilleries, whose breweries and distilleries were acquired by UB Group companies -- United Spirits and United Breweries -- during the last financial year.
Talks initiated with Indian investors, private equity players.
As part of the deal for purchase of 53.4 per cent stake in Vijay Mallya-led UB group's United Spirits Ltd, Diageo has made a Rs 5,441 crore open offer for purchase of 26 per cent stake in the company from non-promoter shareholders.
We wish to build a leading investment banking set up in India.
Kingfisher Airlines may cut jobs, UB group chairman and CEO Vijay Mallya said on Thursday.
The board of Deccan Aviation, India's largest budget carrier, will meet in Bangalore on Wednesday to consider the merger with the UB Group's Kingfisher Airlines, which bought a stake in the carrier recently.
San Fransisco and New York are touted to be the first destinations.
The UB Group plans to export rum to the United Kingdom and the United States and position it as Indian Rum, with an initial shipment of 100,000 cases this fiscal.
The US Federal Aviation Administration has yet to certify Epic's planes. The company manufactures private business jets with single and twin engines, capable of carrying six to seven people.
The move by United Spirits, the Rs 3,500-crore flagship spirits firm of the UB Group, to rope in Diageo as a strategic partner is taking more time than expected. Diageo, a global leader in spirits, is reported to have said it was yet to figure out a structure under which they could forge a strategic relationship with USL.USL has been actively involved in discussions with Diageo for nearly eight months now.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances