United Spirits raises 
1,615 Crore via QIP
Mumbai: United Spirits, the country's largest liquor maker, raised 
1,615.6 crore through qualified institutional placements (QIPs) to primarily repay the debt that it incurred in acquisition of Scottish whiskey maker Whyte and Mackay, reports Hindustan Times.
The company has decided to use the fund for capital expenditure. It divested 16.4 percent or 1.76 crore shares from the existing share capital at 913.7 per share, for private placement to institutions.
The issuance of additional shares would take the current share capital to 12.5 crore shares on a fully diluted basis. The issue was launched on October 14 at a discount of 0.9 percent. It closed on October 20.
1,615.6 crore through qualified institutional placements (QIPs) to primarily repay the debt that it incurred in acquisition of Scottish whiskey maker Whyte and Mackay, reports Hindustan Times.
The company has decided to use the fund for capital expenditure. It divested 16.4 percent or 1.76 crore shares from the existing share capital at 913.7 per share, for private placement to institutions.
The issuance of additional shares would take the current share capital to 12.5 crore shares on a fully diluted basis. The issue was launched on October 14 at a discount of 0.9 percent. It closed on October 20.