Hip Bar Private Limited announced that it has issued 4,567,568 shares at a price of INR 59.11 per share for gross proceeds of INR 269,988,944 on June 25, 2018. The transaction included participation from new investor United Spirits Limited (NSEI:UNITDSPR). The company entered into a share subscription agreement with the investor. Post the closing, the investor will acquire 26% stake in the company. The transaction does not require governmental or regulatory approvals