United Spirits pledges entire 3.21% stake in United Breweries

MUMBAI: United Spirits Ltd (USL) has pledged its entire 3.21 per cent stake in group firm United Breweries for an undisclosed amount.

In a regulatory filing, United Breweries said United Spirits has pledged 85 lakh shares, representing 3.21 per cent stake, in the company on January 1.

However, financial details were not disclosed. At the end of September quarter, United Spirits held 3.21 per cent shareholding in United Breweries.

Shares of United Breweries fell 2.32 per cent to close at Rs 905.05 on the BSE.

Both companies are part of liquor baron Vijay Mallya's diversified UB Group, whose aviation venture has been grappling with tough times for many months.