United Spirits Ltd.

United Spirits has entered into an agreement for sale of all 67,716 equity shares constituting 82.46% of the paid up equity share capital held by the company in its subsidiary, United Spirits Nepal to Rajesh Bir Singh Tuladhar of Kathmandu, Nepal, at a price of Nepalese Rs 5,042 per share. The consideration will be subject to the deduction of applicable taxes in Nepal.

Following the completion of this sale, the company will hold no shares in United Spirits Nepal and it will cease to be a subsidiary of the company. The company will continue to have a licensing arrangement with United Spirits Nepal pursuant to which products bearing the company’s brand names will continue to be manufactured, marketed and sold in Nepal.

The transaction is subject to various regulatory approvals and other conditions precedent, upon the fulfillment of which the sale of shares will be completed.