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ED transfers Rs 5,600-cr UBL shares to recovery officer's demat account

Liquor firm United Breweries on Monday said ED has transferred 4.13 crore equity shares of the Vijay Mallya-promoted firm worth over Rs 5,600 crore to the Demat account of recovery officer of the DRT

Vijay Mallya | United Breweries | Enforcement Directorate

Press Trust of India  |  New Delhi 

vijay mallya
Vijay Mallya

Liquor firm on Monday said the has transferred 4.13 crore equity shares of the Vijay Mallya-promoted firm worth over Rs 5,600 crore to the Demat account of recovery officer of the Debt Recovery Tribunal (DRT).

"The Deputy Director, Directorate of Enforcement (ED), Mumbai has transferred 4,13,15,690 equity shares constituting 15.63 per cent of the equity share capital of the company (out of 4,27,04,758 equity shares constituting 16.15 per cent) to the Demat account of Recovery Officer I DRT-II. Earlier these equity shares were held by certain of our promoter group companies," Ltd (UBL) said in a regulatory filing.

In March 2019, informed the stock exchanges that the Debt Recovery Tribunal in Bengaluru had transferred a 2.80 per cent stake worth over Rs 1,025 crore held by Mallya-promoted United Breweries (Holdings) Ltd in the company in its name.

Dutch beer maker Heineken owns a 46.69 per cent stake in United Breweries.

Based on the current trading price of United Breweries at Rs 1,359.10 per share on BSE, 4,13,15,690 equity shares of the company are worth Rs 5,615 crore.

As of March 31, 2021, Mallya held an 8.08 per cent stake in United Breweries, according to the shareholding pattern of the company.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, June 07 2021. 14:15 IST