New Delhi: United Breweries Ltd (UBL) on Wednesday said private lender Yes Bank has invoked 19 lakh of its shares worth Rs156 crore which were pledged by McDowell Holdings, a unit of Vijay Mallya-led UB Group.
The shares amounting to 0.71% stake in UBL were invoked on 15 September, the company said in a BSE filing.
Based on that day’s closing price of Rs821.10 apiece, the UBL shares are worth Rs156 crore.
McDowell Holdings Ltd had 81,22,344 shares of UBL which accounted for 3.07% of the total shareholding of the company. It had pledged 64,51,000 shares amounting to 2.44% of UBL’s share capital.
Shares of United Breweries Ltd closed 1.72% up at Rs889.40 on BSE.