In a bid to comply with regulatory requirements of having 25% public shareholding, United Spirits is planning to sell 11.35% stake in Pioneer Distilleries. The sale will be carried out on a separate window provided by the BSE and NSE under Securities and Exchange Board of India (SEBI) offer for sale (OFS) circular.
As on June 2014, promoter and promoter group held 86.35% in Pioneer Distilleries, while public shareholding is 13.65%.
Earlier in June 2010, the government had amended the Securities Contract (Regulations) Act rules, which made it mandatory for all listed companies to have a minimum of 25% public shareholding.
Pioneer Distilleries, a subsidiary of United Spirits is engaged in manufacturing of Alcohol. The factory is situated at Dharmabad of Nanded District of Maharashtra.
| Company Name | CMP |
|---|---|
| United Spirits | 1351.05 |
| United Breweries | 1357.70 |
| Radico Khaitan | 3949.20 |
| Allied Blenders&Dist | 668.10 |
| India Glycols | 1026.85 |
| View more.. | |
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