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United Spirits gains on plan to sell 11.35% stake in Pioneer Distilleries

22 Sep 2014 Evaluate

United Spirits is currently trading at Rs. 2352.00, up by 1.35 points or 0.06 % from its previous closing of Rs. 2350.65 on the BSE.

The scrip opened at Rs. 2338.00 and has touched a high and low of Rs. 2379.90 and Rs. 2325.10 respectively. So far 9667 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2940.55 on 15-Apr-2014 and a 52 week low of Rs. 2226.00 on 05-Sep-2014.

Last one week high and low of the scrip stood at Rs. 2424.95 and Rs. 2284.05 respectively. The current market cap of the company is Rs. 34166.55 crore.

The promoters holding in the company stood at 32.96% while Institutions and Non-Institutions held 11.02% and 55.43% respectively.

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.

United Spirits Share Price

1303.00 48.35 (3.85%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
United Spirits 1303.00
United Breweries 1494.10
Radico Khaitan 3188.25
India Glycols 975.65
Allied Blenders 573.50
View more..

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