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ED transfers Vijay Mallya-promoted UB shares worth over Rs 5,600 crore to recovery officer's demat account

09:11 PM Jun 07, 2021 | Agencies

Liquor firm United Breweries on Monday said the Enforcement Directorate 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," United Breweries Ltd (UBL) said in a regulatory filing.

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In March 2019, United Breweries 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.

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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.

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