UB raises Rs 600 cr via QIP issue

United Breweries (Holdings) Ltd, the holding company of the $10 billion-Vijay Mallya Group, has priced its issue of equity shares under the qualified institutional placement (QIP) guidelines of Sebi today. The company had launched the Rs 600 crore-QIP offering on Tuesday.

The price per equity share of Rs 10 each has been fixed at Rs 1,110. This price is at a par with the average closing price of the company for the past 15 trading days. The QIP issue was oversubscribed by over 2.6 times. CLSA India acted as the sole global coordinator and book running lead manager for this offering. Ambit acted as the co-book running lead manager.

UBHL will issue 5,405,405 equity shares of Rs 10 each through this offering. Applications will be made to list the equity shares on the Bombay and Bangalore Stock Exchanges.