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United Spirits Ltd.

BSE: 532432 Sector: Consumer
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Announcement Under Regulation 30 - Fund Raising By Our Investee Company

April 16, 2020, 6:00 pm | Source: BSE

Further to the disclosure made by the Company on 25th June 2018 regarding the acquisition of shares in HipBar Private Limited please be informed that HipBar has today issued Compulsory Convertible Preference Shares (CCPS) to its promoter group for INR 3 crores. While the exact conversion ratio of these CCPS would be fixed at a later date the dilution of Companys equity in HipBar consequent to the aforesaid CCPS issuance is expected to be in the range of 2.4% to 3.4%. Accordingly the revised shareholding of the Company (on a fully diluted basis) is expected to be 22.6% to 23.6%.