Prasanna Natarajan agreed to acquire an unknown minority stake in Hip Bar Private Limited from United Spirits Limited (NSEI:MCDOWELL-N) for INR 5.2 million on July 22, 2021. Agreement will be entered in due course. The transaction has been approved by the Board of United Spirits Limited. The transaction is expected to complete on or before October 31, 2021. The proposed divestment will not have any adverse effect on United Spirits Limited's performance in the current financial year.
Prasanna Natarajan completed the acquisition of an unknown minority stake in Hip Bar Private Limited from United Spirits Limited (NSEI:MCDOWELL-N) on August 3, 2021. As of August 3, 2021, the parties have completed the share transfer formalities and United Spirits Limited has received the entire consideration amount.