United Spirits approves preferential allotment of shares to Diageo | business | Hindustan Times
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United Spirits approves preferential allotment of shares to Diageo

United Spirits Ltd on Monday approved the allotment of 14.5 million shares on a preferential basis to a wholly owned unit of UK drinks group Diageo Plc, as part of the stake sale deal announced in November.

business Updated: May 27, 2013 12:42 IST

United Spirits Ltd on Monday approved the allotment of 14.5 million shares on a preferential basis to a wholly owned unit of UK drinks group Diageo Plc, as part of the stake sale deal announced in November.

United Spirits will allot the shares to the Diageo unit at Rs 1,440 a share, the company said in a statement to the Bombay Stock Exchange.