United Spirits Ltd.

Edelweiss group has bought 2.57% stake in United Spirits (USL) by revoking pledge shares. Following this acquisition, total holding of Edelweiss group in USL stands at 6.90%. The group earlier 4.33% stake in USL as pledged shares.

Earlier, it was reported that India Global Competitive Fund, part of Kolkata-based Srei group, sold 21.98 lakh shares of United Spirits through the open market route. The shares were sold on an average price of Rs 2,717.33 valuing the transaction to Rs 597.54 crore

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.