Srei group company sells United Spirits' 22 lakh shares for Rs 597 crore

MUMBAI: India Global Competitive Fund, part of Kolkata-based Srei group, today offloaded nearly 22 lakh shares of United Spirits for a little over Rs 597 crore.

According to information available with stock exchanges, India Global Competitive Fund sold 21,98,980 shares of the flagship firm of Vijay Mallya-led UB Group.

The shares were offloaded at an average price of Rs 2,717.33, valuing the transaction at Rs 597.53 crore, through an open market transaction.

However, buyer (s) of the shares could not be ascertained immediately.

United Spirits is India's top spirits maker with brands such as Signature, Bagpiper, Antiquity and Royal Challenge.

Shares of United Spirits closed at Rs 2,783.40 apiece on the BSE, up 0.26 per cent from the previous close.