HDFC Ltd has invoked 1.5 lakh shares of United Spirits Ltd (USL) pledged by Vijay Mallya-led investment arm Kingfisher Finvest India Ltd.
HDFC invoked the shares amounting to 0.10 per cent stake in USL on November 23, 2015, United Spirits Ltd (USL) said in a BSE filing.
Based on the closing price of Rs 3,426.3 on November 23, the shares are worth Rs 51.39 crore.
"Kingfisher Finvest had pledged certain shares in USL to HDFC Ltd to secure loans given to United Breweries (Holding) Ltd, the holding firm," USL said.
Last week, another private sector lender Yes Bank had invoked 3.02 per cent stake of United Breweries, pledged by McDowell Holdings, a unit of Vijay Mallya-led UB Group, by selling shares worth Rs 778 crore.
