Pharma tycoon Adar Poonawalla has emerged as a potential suitor for the Indian Premier League franchise Royal Challengers Bengaluru, sparking fresh speculation around a possible change in ownership of one of the league's most high-profile teams.
Diageo's India arm will begin a strategic review of its investment in a unit which owns the IPL team Royal Challengers Bengaluru, the spirits maker said on Wednesday.
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.
It is not yet clear if Diageo Plc is looking to sell its complete stake in RCB.
The stock of United Spirits, the country's largest liquor company by market capitalisation (mcap), has gained 11 per cent over the past week on double-digit growth guidance, rising premiumisation trend, operationally in-line performance in the March (Q4FY24) quarter and a rally in consumer stocks. The revenue growth of the company came in at 7 per cent year-on-year (Y-o-Y) mirroring the growth of the prestige and above (P&A) segment. This segment comprising premium brands accounts for 88 per cent of the revenues.
Firmly committed to prioritise national interest over all other considerations: JioStar
Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
While the enterprise value of 595 million may seem expensive for the acquisition of Whyte & Mackay by United Spirits, the fact remains that scotch is in short supply globally and there aren't too many companies up for sale.
United Spirits wants to align its resources to meet its goals of becoming a trusted and respected consumer goods company.
'The more number of times you reach the playoffs, the probability of winning the championship is quite near.'
United Spirits Ltd (USL), flagship spirits company of the UB Group, has finally decided on foreign currency convertible bonds (FCCBs) to raise as much as $225 million (Rs 1,190 crore). The plan is to raise up to $175 million, plus an over-allotment option of $50 million.
The companies have postponed their open offer, too.
Ever since Diageo struck a deal to buy controlling stake in United Spirits Ltd, the two companies have pulled all stops to ensure the "dream combination" gets all the regulatory clearances.
Global liquor major Diageo Plc has submitted details sought by market regulator Sebi regarding its Rs 5,441 crore open offer for buying stake in Vijay Mallya-led United Spirits.
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.
The offer price remains the same at Rs 1,440 per share.
The firm has advised United Spirits Ltd's shareholders to vote against the proposal to re-appoint Mallya as director on the board.
On November 9, 2012 Diageo had announced buying a 53.4 per cent stake in USL for Rs 11,166.5 crore (Rs 111.66 billion) in a multi-structured deal.
However, even after finalising the multi-pronged cross-border Rs 11,165-crore deal in November 2012, Diageo's wait for acquiring a decent stake in India's leading whisky maker, United Spirits, seems to be getting longer and longer.
In a filing to the BSE, United Spirits said the manager to the open offer, JM Financial Institutional Securities Pvt Ltd has informed that the offer price shall remain at Rs 1,440 per equity share.
Brokerages expect better financials as management is determined to improve profitability.
United Spirits, liquor baron Vijay Mallya's Rs 3,600 crore (Rs 36 billion) firm, is set to launch feni, the famous Goan spirit, in the branded retail market by the next quarter.
At the start of the auction on Sunday, Punjab Kings had the highest funds at Rs 110.5 crore, which decreased to Rs 10.9 crore before Day 2 on Monday.
Brewing billionaire Vijay Mallya's woes seem to be compounding. His flagship spirits arm, United Spirits Ltd (USL), is starting to mirror Kingfisher Airlines.
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.
UK-based Diageo's acquisition of 53.4 per cent stake in Vijay Mallya-led United Spirits for Rs 11,166.5 crore ($2 billion) could be the biggest inbound M&A deal so far this year.
Nearly six months after he put the stake sale process of Whyte & Mackay on the fast track to find a solution to United Spirits' high leverage, UB Group Chairman Vijay Mallya is understood to be nearing a deal to offload 49 per cent stake in the flagship subsidiary.
Framing the next chapter in Swiggy's journey as a responsible corporate citizen, co-founder and chief executive officer (CEO) Sriharsha Majety unveiled the company's eagerly awaited public listing. Majety, who has largely shunned the spotlight, shared reflections on his entrepreneurial path and the strategic pivots he and his co-founders navigated in building Swiggy. "We started with code aggregation, then pivoted to logistics, and that became Swiggy.
Mallya and UBHL now hold a little over 3.3 per cent in USL.
United Spirits Ltd, owned by Vijay Mallya-controlled UB Group, is set to become the world's second-largest spirits firm by volumes, dislodging Paris-headquartered Pernod Ricard.
Shares of United Spirits on Monday soared nearly 35 per cent, taking its market valuation higher by Rs 6,211 crore, after the UK-based Diageo Plc said it will buy 53.4 per cent stake in the company for Rs 11,166.5 crore in a multi-structured deal.
For the first nine months of the current financial year, net sales rose by close to 37 per cent to Rs 1,470 crore (Rs 14.7 billion( over the previous corresponding period, while operating profit increased by another 37 per cent to Rs 322 crore (Rs 3.22 billion).
Sources say Diageo is pushing for a management control of United Spirits; and this has led Mallya to rethink on the offer.
With this, Heineken's stake has risen from 39% to 42.2%.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
Banks who had lend to Kingfisher Air are finding it difficult to recover dues.
These transactions have come for shareholders approval because of requirements under the new companies law and amended listing agreements.
The company secured independent valuation for these properties and had shared the same with Mallya
USL claims it has given a report on how the liquor baron channelled money from the company to Kingfisher Airlines, Force India and Watson.
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