Vijay Mallya may sell RCB stake to escape debt trap

July 10, 2012

vijay-mallya

Bangalore, July 10: After the financial turbulence at Kingfisher Airlines, Chairman Vijay Mallya's United Spirits is looking at reducing its debt and bringing back the good times. It may even sell its stake in its Indian Premier League (IPL) team Royal Challenges Bangalore (RCB).


Vijay Mallya's acquisition of the brand White & Mackay helped United Spirits reach the top of the global pyramid, but it came at a cost. Its debt has surpassed Rs 7,000 crore and the company is looking at monetising its non core assets to bring this down to manageable levels.


When the price is right, these assets could well include treasury stocks, a stake in United Breweries, and even a stake in its cricket franchise Royal Challengers Bangalore - all worth between Rs 1,500 and Rs 2,000 crore.


Ashok Capoor, President & MD, USL, said, "We have non core assets we can monetise anytime - treasury stocks, UBL stocks, Royal Challengers. But we will not do any selling at this stage. We will only sell when the price and timing are right to bring our debt down in the future.


That's not all. After touching 120 million cases in volume sales last fiscal, USL is now shifting focus to margins. So the sales target 200 million cases by FY 16 is taking a back seat. USL will drive brands that will contribute to revenues, even if they don't add to the volumes initially.


Ashok Capoor said, "We are chasing value, brands that are more premium and the trend is also towards premiumisation, so with that agenda I don't think we will do 200 million cases by FY 16. It will be less than that."


The company is also hoping that input costs will stabilise this year, making its job much easier.


In 2011, the prices of key input elements, extra neutral alcohol or ena and glass, rose significantly, forcing USL to opt for an aggressive, higher-than-usual, 3.5 per cent price hike. But USL says both ena prices and glass availability are improving this year and as they say - every drop counts.



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News Network
June 27,2020

Jun 27: India's Test batting mainstay Cheteshwar Pujara cannot describe in words the influence that Rahul Dravid has had on his life but says he will always remain grateful to him for teaching the importance of switching off from cricket.

Often compared to Dravid, who was considered the 'wall' of Indian cricket, Pujara said he is thankful to Dravid for teaching him how to keep personal and professional lives separate.

"He helped me understand the importance of switching off from cricket. I had the same thought, more or less, but when I spoke to him, it gave me a lot of clarity about it and I was sure of what I needed to do," he told ESPNcricinfo.

"I also saw in county cricket how they keep personal and professional lives separate. I value that advice a lot. Many people consider me to be focused. Yes, I am focused, But I also know when to switch off. There is life beyond cricket."

In his illustrious international career, Dravid amassed 13288 runs in 164 Tests and 10889 runs in 344 ODIs. He also captained India in 79 ODIs, winning 42 of them, which includes the world record of 14 successive wins while chasing.

"I cannot say in one line what Rahul bhai means to me. He has always been an inspiration, and will remain one," Pujara said.

His mental fortitude and batting technique is often compared to Dravid but Pujara said "despite my enchantment with him" he never tried to "copy him."

"There is a similarity in our games, but that's not because of my fascination with him. That came mainly through my experiences with Saurashtra, where I learned that scoring a hundred alone isn't enough, you have to carry your team," he said.

"That is how I learned responsibility - it is about helping my team to raise a big total, and for that I ought to attach importance to my wicket. I learned that from my junior cricket days with Saurashtra, which was a weaker team in domestic cricket."

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Agencies
January 9,2020

Atlanta, Jan 9: Top tennis stars like Roger Federer, Rafael Nadal, and Serena Williams will be playing an exhibition match to raise funds for Australia's bushfire relief.

Apart from these three, Naomi Osaka, Nick Kyrgios and Stefanos Tsitsipas have also confirmed their availability for the match, CNN reported.

The match will be played on January 15 at Melbourne's Rod Laver Arena. The Australian Open Rally for Relief will be donating the proceedings from the ticket sales to the bushfire relief efforts.

Tennis star Maria Sharapova had also announced on Wednesday that she had left 10 signed pairs of her tennis shoes in her Brisbane hotel that members of the public could buy with a donation to the Australian Red Cross.

"Brisbane, I have signed ten pairs of my tennis shoes, left them at the @BrisbaneTennis
desk at the Westin Hotel, alongside a donation envelope for fire rescue efforts.They're yours to keep,we just ask you to donate AUD 300 a pair. All money going directly to Red Cross," Sharapova tweeted.

Earlier, former Australian spinner Shane Warne on Monday had announced to auction his Baggy Green cap to raise funds for victims of devastating bushfires in Australia.

Taking to Twitter, Warne made the announcement and posted a statement.

"The horrific bushfires in Australia have left us all in disbelief. The impact these devastating fires are having on so many people is unthinkable and has touched us all. Lives have been lost, homes have been destroyed and over 500 million animals have died too," Warne wrote.

"Everyone is in this together and we continue to find ways to contribute and help on a daily basis. This has led me to auction my beloved baggy green cap (350) that I wore throughout my Test career," he added.

Warne joined a growing list of cricketers to raise money for the bushfire victims. Australian players Chris Lynn, Glenn Maxwell and D'Arcy Short have already announced that they will donate AUD 250 each for every six they hit in the ongoing Big Bash League (BBL) to support bushfire victims.

Athletes from other sports too joined the movement as tennis stars Maria Sharapova and Novak Djokovic decided to donate 25,000 dollars each for Australia's bushfire relief fund.

Wildfires have been raging across Australia for months, killing 23 people, burning about 6 million hectares (23,000 square miles) of bushland and killing a billion animals.

Naval and air rescue operations were launched on Friday as mass evacuations of towns at risk of being engulfed by flames got underway.b

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Agencies
August 2,2020

New Delhi, Aug 2: BCCI president Sourav Ganguly on Sunday said the Women's IPL or the Challenger series, as it is better known, is "very much on", ending speculation about the parent body not having a plan for Harmanpreet Kaur and her team.

The men's IPL will be held between September 19 and November 8 or 10 (final date yet to be locked in) in the UAE due to the surge in Covid-19 cases in India. The women's IPL will also be fit in to the schedule, according to the BCCI chief.

"I can confirm to you that the women's IPL is very much on and we do have a plan in place for the national team also," Ganguly told PTI ahead of the IPL Governing Council meeting later on Sunday.

The BCCI president, who is awaiting a Supreme Court verdict on waiver of the cooling-off period to continue in the position, did not divulge details but another senior official privy to the development said that women's Challenger will be held during the last phase of IPL like last year.

"The women's Challenger series is likely to be held between November 1-10 and there could be a camp before that," the source said.

The former India captain also said that the centrally contracted women players will have a camp which has been delayed due to the prevailing situation in the country.

"We couldn't have exposed any of our cricketers -- be it male or female to health risk. It would have been dangerous," Ganguly said.

"The NCA also remained shut because of Covid-19. But we have a plan in place and we will have a camp for women, I can tell you that," he added.

The BCCI's cricket operations team is chalking up a schedule where Indian women are likely to have two full-fledged white-ball series against South Africa and the West Indies before playing the ODI World Cup in New Zealand. 

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