United Spirits rises on getting nod to invest in Inspired Hospitality
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United Spirits is currently trading at Rs. 1125.80, up by 5.00 points or 0.45% from its previous closing of Rs. 1120.80 on the BSE.
The scrip opened at Rs. 1121.15 and has touched a high and low of Rs. 1130.15 and Rs. 1117.60 respectively. So far 6031 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1182.90 on 02-Mar-2024 and a 52 week low of Rs. 741.40 on 10-Apr-2023.
Last one week high and low of the scrip stood at Rs. 1169.40 and Rs. 1112.00 respectively. The current market cap of the company is Rs. 81888.80 crore.
The promoters holding in the company stood at 56.67%, while Institutions and Non-Institutions held 28.74% and 14.59% respectively.
United Spirits has received approval for the investment in Inspired Hospitality (Pistola) by subscribing to 3,494 Compulsory Convertible Preference Shares (CCPS) and 10 equity shares of Pistola equivalent to 15.0% of its issued and paid-up share capital on a fully diluted basis for an aggregate consideration of Rs 5.65 crore.
With this investment, the company aims to strengthen its play in the premium craft segment with an Indian provenance which has been witnessing good traction amongst Indian consumers. The board of directors of the company at its meeting held on April 4, 2024 has inter-alia approved the same.
United Spirits is one of the leading beverage alcohol companies in India and a subsidiary of global leader Diageo plc. It manufactures, sells and distributes an outstanding collection of iconic global and premium Indian brands.
