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United Spirits launches $350 mn share sale

United Spirits launches $350 mn share sale
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First Published: Wed, Oct 14 2009. 06 46 PM IST
Updated: Wed, Oct 14 2009. 06 46 PM IST
Mumbai: India’s United Spirits has launched the sale of $350 million worth of shares to institutions, two sources with knowledge of the deal said.
One source said the shares were being offered at Rs914 to Rs915 each. The stock closed at Rs921.40 on Wednesday.
The company is trying to cut its debt after efforts to sell a stake to private equity firms and Diageo failed.
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First Published: Wed, Oct 14 2009. 06 46 PM IST