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Yes Bank invokes 19 lakh UBL shares worth Rs 156 crore

United Breweries Ltd (UBL) today said private lender Yes Bank has invoked 19 lakh of its shares worth Rs 156 crore which were pledged by McDowell Holdings, a unit of Vijay Mallya-led UB Group.

By: | New Delhi | Published: September 21, 2016 5:24 PM
The shares amounting to 0.71 per cent stake in UBL were invoked on September 15, the company said in a BSE filing. (Source: Reuters)

United Breweries Ltd (UBL) today said private lender Yes Bank has invoked 19 lakh of its shares worth Rs 156 crore which were pledged by McDowell Holdings, a unit of Vijay Mallya-led UB Group.

The shares amounting to 0.71 per cent stake in UBL were invoked on September 15, the company said in a BSE filing.

Based on that day’s closing price of Rs 821.10 apiece, the UBL shares are worth Rs 156 crore.

McDowell Holdings Ltd had 81,22,344 shares of UBL which accounted for 3.07 per cent of the total shareholding of the company.

It had pledged 64,51,000 shares amounting to 2.44 per cent of UBL’s share capital.

Shares of United Breweries Ltd closed 1.72 per cent up at Rs 889.40 on BSE.

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