MillenniumPost
Business

Sebi gives Diageo more time for USL open offer

Global liquor giant Diageo has requested Sebi to allow it to launch an open offer for purchase of shares in United Spirits after receipt of all regulatory approvals.

While granting its approval to the request, the Securities and Exchange Board of India (Sebi) on its part has said that UK-based Diageo will have to pay an interest of 10 per cent per annum for the period of delay to the public shareholders tendering their shares in the open offer.

The revised schedule would be announced in due course after all the regulatory approvals, Diageo's manager for the open offer, JM Financial, said in a notice to shareholders.
Next Story
Share it