India. ICICI Bank buys 0.74% stake of United Breweries

Post published:11/01/2016
Reading time:1 min(s) read

ICICI Bank, the country’s largest private sector lender, today picked up 19.58 lakh shares of United Breweries Limited for a little over Rs 186 crore through an open market transaction.

The shares were offloaded by United Breweries (Holdings) Ltd, a promoter of United Breweries.

According to block deal data available with the stock exchanges, ICICI Bank purchased a total of 19,58,000 shares, amounting to 0.74 per cent stake of United Breweries.

The shares were bought for an average price of Rs 950.1 apiece, valuing the transaction at Rs 186.03 crore.

As of September quarter, United Breweries (Holdings) Ltd held 3.03 crore shares or 11.46 per cent stake in the company.

United Breweries, which makes Kingfisher Beer, is India’s largest brewer.

In November, Yes Bank had sold 4.25 lakh shares of United Breweries for Rs 39.48 crore through open market route. These shares were purchased by Heineken International BV, the maker of Heineken beer.

United Breweries shares today closed 0.9 per cent down at Rs 940.40 apiece on BSE.

Tags: beer in India, Heineken, United Breweries

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