United Spirits is looking to reduce its debt by up to Rs 2,000 crore in the next two years through various measures. The company will consider steps, including divesting 13 properties earlier owned by embattled liquor baron Vijay Mallya and sale of USL shares currently under litigation with IDBI Bank.
The sale of 13 properties would fetch around Rs 500-700 crore. USL has an outstanding debt of over Rs 4,000 crore as on March 31, 2016.
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.
