Yes Bank invokes 19 lakh United Breweries shares worth Rs156 crore

McDowell Holdings Ltd had 81,22,344 shares of United Breweries which accounted for 3.07% of the total shareholding of the company


Photo: Mint
Photo: Mint

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.

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