Amended Share Purchase Agreement Signed by United Spirits Limited Consortium
United Spirits Limited (USL) has entered into an amended and restated Share Purchase Agreement (A&R SPA) dated May 11, 2026. The agreement formalizes changes in the consortium of purchasers involved in the transaction for Royal Challengers Sports Private Limited (RCSPL).The A&R SPA was executed between USL and the key consortium members: Bolt IPL Holdings LLC, Big Banyan Holdings Pte. Ltd, Asia Investment Topco II Pte. Ltd, Times Internet Limited, Times Cricket LLP, and ICQ Opportunities R C Holdco, Ltd.
The purpose of the amended agreement is to record and reflect changes in the purchasing entities, specifically introducing additional purchasers and noting the retirement of certain original purchasers.
Key Changes in the Consortium
The A&R SPA formalizes the roles of the parties involved, detailing changes in the structure of the acquiring consortium:- Additional Purchasers: Big Banyan Holdings Pte. Ltd, Times Cricket LLP, and ICQ Opportunities R C Holdco, Ltd have been introduced as additional purchasers executing the A&R SPA.
- Retiring Purchasers: Asia Investment Topco II Pte. Ltd and Metropolitan Media Company Company Limited are the retiring purchasers who are no longer signing the A&R SPA.
- Assumption of Rights: The rights and obligations of the retiring purchasers under the original agreement are assumed by the continuing and additional purchasers.
Transaction Stability and Financial Details
USL clarified that the underlying consortium entering into the A&R SPA, the sale shares—amounting to 14,690 equity shares of RCSPL—and the aggregate consideration remain unchanged. The modification reflects only a reorganization of the legal entities within the consortium responsible for executing the transaction documents.The initial transaction for the shares was documented in a Share Purchase Agreement (SPA) executed on March 24, 2026.
The key details of the transaction and the participating entities are summarized below:
| Particulars | Details |
|---|---|
| Date of Amended Agreement | May 11, 2026 |
| Seller | Royal Challengers Sports Private Limited (RCSPL) |
| Key Entities Involved | USL, Bolt IPL Holdings LLC, Big Banyan Holdings Pte Ltd, Asia Investment Topco II Pte. Ltd, Times Internet Limited, Times Cricket LLP, ICQ Opportunities RC Holdco, Ltd |
| Underlying Shares | 14,690 equity shares of RCSPL |
| Aggregate Consideration | INR 166.6 bn |
| Nature of Transaction | Amendment and restatement of the SPA due to purchaser reorganization. |
UNITDSPR Stock Price Movement
United Spirits Limited shares today slipped by 1.23% to close at ₹1266.1. The stock saw considerable activity, recording a total traded volume of 437,790 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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