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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

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