India: United Breweries Holdings raises $152 million from placement

India's United Breweries Holdings Ltd, the holding company of alcoholic drinks maker UB Group, said on it had raised 6 billion rupees ($152 million) from a placement with qualified institutional buyers, Reuters reported December 13.

A total of 5.4 million shares were placed at 1,110 rupees each, it said in a statement which did not identify the buyers.

The company also issued 6.4 million warrants to the founders at 1,110 rupees each, for a total of 7.1 billion rupees, it said, in line with a previously disclosed plan to raise money through an issue of shares and warrants.

Ahead of the news, shares in the company, which also controls Kingfisher Airlines, ended up 0.3 percent at 1,147.15 rupees in a weak Mumbai market.

14 December, 2007