United Spirits announced that its associate company HipBar has issued Compulsory Convertible Preference Shares (CCPS) to its promoter group for Rs 3 crore. While the exact conversion ratio of these CCPS would be fixed at a later date, the dilution of Company's equity in HipBar consequent to the aforesaid CCPS issuance is expected to be in the range of 2.4% to 3.4%. Accordingly, the revised shareholding of the Company (on a fully diluted basis) is expected to be 22.6% to 23.6%.
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