United Spirits, India's largest liquor maker has obtained shareholders' nod to raise $225 million through the foreign currency convertible bonds (FCCB) route, out of which $50 million will be the green-shoe option. The company is raising this money to repay some foreign debt and fund ‘capital expenditure,' for some acquisitions.
The company has to repay Whyte & Mackay’s debt of around 375 million pound. United Breweries bought Scotch whisky maker Whyte & Mackay for about 595 million pound in 2007.
United Spirits is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits.
Company Name | CMP |
---|---|
United Spirits | 1164.60 |
United Breweries | 1857.10 |
Radico Khaitan | 1576.05 |
Globus Spirits | 703.00 |
Tilaknagar Inds | 229.90 |
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