United Spirits has on June 25, 2018 subscribed to 4,567,568 equity shares of Hip Bar, constituting approximately 26% of the paid-up equity share capital of Hip Bar, for a subscription price of Rs 270,000,000. The investment was completed pursuant to the terms of a Share Subscription Agreement and a Shareholders’ Agreement entered into by the company with, amongst others, Hip Bar and its promoters, on June 25, 2018.
The company will continue to partner with Hip Bar for promoting the company’s products on Hip Bar’s platform, pursuant to the terms of a brand partner agreement.
United Spirits is the largest spirits company in India and a flagship entity of UB group. It manufactures wide range of whisky, vodka, rum and other spirits.
