In line with its intention of monetizing its non-core assets, United Spirits Limited has today entered into a definitive agreement to sell its entire shareholding in its non-operative subsidiary - Tern Distilleries Private Limited for a consideration of INR 30 crore.
For the financial year ended March 2020, Tern Distilleries was a non-operative company and consequently did not have any turnover or revenue or income. It had a net worth of approximately INR 134 million representing 0.36% of USL's consolidated net-worth.
The purchaser, NCL Industries Limited, is not a promoter or part of the promoter group of the Company.
Shares of UNITED SPIRITS LTD. was last trading in BSE at Rs.624.45 as compared to the previous close of Rs. 627.9. The total number of shares traded during the day was 45401 in over 1720 trades.
The stock hit an intraday high of Rs. 643 and intraday low of 620.6. The net turnover during the day was Rs. 28724031.
Shares of NCL INDUSTRIES LTD. was last trading in BSE at Rs.149.4 as compared to the previous close of Rs. 150.7. The total number of shares traded during the day was 26520 in over 535 trades.
The stock hit an intraday high of Rs. 153.05 and intraday low of 145. The net turnover during the day was Rs. 3969627.