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T Rowe Price, Capital buy United Spirits’ stock

T Rowe Price, Capital buy United Spirits’ stock
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First Published: Thu, Jul 02 2009. 12 31 AM IST
Updated: Thu, Jul 02 2009. 12 31 AM IST
Mumbai:T. Rowe Price International Inc. and Capital International Emerging Markets Fund were among investors who bought 10.3% of United Spirits Ltd, India’s biggest liquor producer, for Rs905 crore.
T. Rowe Price bought 499,070 shares for Rs880 apiece, filing with the stock exchanges on Tuesday show.
Capital acquired 1.06 million shares, DWS Investment 1.03 million shares, Emerging Markets Growth Fund Inc. 2.14 million shares and Reliance Mutual Fund 570,000 shares, the data shows.
Shaw Wallace and Co. Ltd, a unit of United Spirits, sold 10.2825 million shares at Rs880 each to the investors. The company plans to use the funds to repay debt, United Spirits said in a statement to the Bombay Stock Exchange on Tuesday.
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First Published: Thu, Jul 02 2009. 12 31 AM IST