The companies have postponed their open offer, too.
The Indian Premier League's overall brand value declined by 20 per cent to $9.6 billion in 2025 due to lost momentum in the league caused by tensions between India and Pakistan, and teams adjusting to their squad composition post the auction.
Sources say Diageo is pushing for a management control of United Spirits; and this has led Mallya to rethink on the offer.
Bankers and the senior management are expected to convene another meeting later this month.
Vijay Mallya who inherited the UB Group from his father as a young 28-year-old, said he has got "nothing to prove".
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
The deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
RBI, Enforcement Directorate to see if money was sent to tax haven
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
According to various senior UB Group officials, the strategy of 14 power brands' focus is expected to be rolled out soon.
Soon after acquiring strategic management control of Vijay Mallya's crown jewel, United Spirits, Diageo has swung into action, making up for years of lost time in trying to figure out the Indian market.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances