McDowell pledges entire stake in UB Holdings
United Breweries (Holdings) today said one of its promoter group firm McDowell Holdings, has pledged its entire 7.87 per cent stake in the company.
In a disclosure to the Bombay Stock Exchange, United Brewaries (Holdings) said McDowell Holdings has pledged an additional 2.60 lakh shares of the company on March 25.
Pursuant to the said pledge, McDowell has pledged over 52.60 lakh shares or 7.87 per cent stake in United Brewaries (Holdings).
As of December 2008, promoters held 51.82 per cent stake in the Vijay Mallya-led company.
Shares of United Brewaries (Holdings) settled at Rs 87.70, up 5.09 per cent on the BSE today.