United Spirits Limited has completed the sale of a prestigious residential property in Mumbai’s upscale Malabar Hill neighborhood for ₹172 crore, according to a regulatory filing made by the company this weekend.
The property, which includes a ground floor and two upper floors, was sold complete with furniture, fixtures, and fittings. The buyers, Ajaykumar Dineshkumar Vaghani and Manisha Ajay Vaghani, will bear all applicable stamp duty, registration fees, and taxes associated with the transaction.
In its disclosure to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on Saturday, United Spirits confirmed that the sale was approved by its Board of Directors. The company said that the buyers have no connection with the company’s promoters, promoter group, or group companies.
The regulatory filing, made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, clarified that the agreement does not grant any special rights to the buyers, such as the right to appoint directors, first right to share subscription, or restrictions on changes in the capital structure.
United Spirits also confirmed that the transaction was conducted at arm’s length and is not classified as a related party transaction.
United Spirits Limited (USL), a subsidiary of Diageo, is a leading Indian beverage alcohol company, manufacturing, selling, and distributing a wide portfolio of global and Indian brands, with its headquarters in Bangalore.
It is a leading beverage alcohol company in India, known for manufacturing, selling, and distributing a wide range of alcoholic beverages, including whisky, brandy, rum, vodka, gin, and Indian-made foreign liquor (IMFL).
In February, United Spirits said it would close its manufacturing facility in Hyderabad, Telangana.
The facility has an estimated closure date of 31 July 2025, subject to statutory approvals.
In January, USL appointed Praveen Someshwar as new chief executive, taking over from Hina Nagarajan.
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