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HomeAlco-BevBoard of United Spirits approves divestment of entire stake...

Board of United Spirits approves divestment of entire stake held in HipBar

The Board of United Spirits at its meeting held on 23 July 2021 has inter alia approved sale of all equity shares and compulsory convertible preferential shares (CCPS) held by the Company in Hip Bar (HipBar) to Prasanna Natarajan, promoter of HipBar.

The Company had fully impaired its aforesaid investment in the financial year 2020-2021. Consequently, the proposed divestment will not have any adverse effect on Company’s performance in the current financial year.

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The above news was originally posted on www.business-standard.com

Aabkari Times Editorial Teamhttps://aabkaritimes.com
Aabkari Times is a monthly news magazine on Liquor, Excise and Alcohol allied industry; being published since 2009 by the expertise of retired excise dept. associates and alco-bev industry professionals as our editorial team. Our magazine contains different new alco-bev strategic and new brand launch articles as well as news on recent govt. policies, trends on alcohol industry and other important data relevant to the distilleries and industry at the mass.

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