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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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Agencies
March 8,2020

Mumbai, Mar 8: Shikhar Dhawan, Hardik Pandya and Bhuvneshwar Kumar returned to India's ODI squad as the Board of Control for Cricket in India (BCCI) announced the team for the upcoming South Africa series.

South Africa are scheduled to tour India for a three-match ODI series, starting from March 12.

India's ODI squad: Shikhar Dhawan, Prithvi Shaw, Virat Kohli (C ), KL Rahul, Manish Pandey, Shreyas Iyer, Rishabh Pant, Hardik Pandya, Ravindra Jadeja, Bhuvneshwar Kumar, Yuzvendra Chahal, Jasprit Bumrah, Navdeep Saini, Kuldeep Yadav, Shubman Gill.

Cricket South Africa (CSA) have already announced their squad for the series and spinner George Linde was given maiden ODI call-up.

South Africa squad: Quinton de Kock (c, wk), Temba Bavuma, Rassie van der Dussen, Faf du Plessis, Kyle Verreynne, Heinrich Klaasen, David Miller, Jon-Jon Smuts, Andile Phehlukwayo, Lungi Ngidi, Lutho Sipamla, Beuran Hendricks, Anrich Nortje, George Linde, Keshav Maharaj, Janneman Malan.

The first ODI will be played in Dharamsala while the other two matches will be played in Lucknow and Kolkata on March 15 and 18, respectively.

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coastaldigest.com web desk
August 3,2020

The Board of Control for Cricket in India (BCCI) will not end its partnership with Chinese companies. Vivo, the Chinese smartphone maker, is the main sponsor of the new IPL season as well. Apart from Vivo, PayTM and Dream 11 will also be at the helm of the 13th edition of the IPL. The IPL governing council meeting on Sunday decided to retain the old sponsors.

As soon as the IPL GC announced the decision of retaining the sponsors, a huge number of fans took to Twitter to slam the board for the same. #BoycottIPL started trending as the users urged others to boycott the tournament for the Chinese connection.

Earlier, the demand for exclusion of Chinese companies from the IPL was strong in the wake of the India-China border dispute. But the BCCI cannot abruptly end its collaboration with them. Because of the signed contract itself. And in this age of declining economy, it is difficult to find new sponsors quickly.

The current BCCI contract with Vivo is for five years. Vivo has invested Rs 2,199 crore to become the main sponsor of the IPL. The contract was signed in 2017. However, the BCCI’s move is paving the way for new discussions as calls are mounting across the country to boycott Chinese companies.

The BCCI announced other important decisions besides retaining sponsors. The IPL will be held from September 19 to November 10. The Indian government has given permission to the BCCI to hold the IPL in the UAE. With this, all obstacles in the way of organizing the tournament were removed.

The IPL matches will be played at 7.30 pm Indian time (6 pm UAE time). Most matches are about one match a day. There are a total of ten ‘double headers’ (two matches a day) in the tournament. Franchisees are allowed to appoint as many replacements as they want in the new season in view of the new health situation. At the same time, the maximum number of players a franchise can accommodate is 24. The BCCI is also planning to host a women’s IPL tournament.

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News Network
February 13,2020

Feb 13: Veteran India batsman Suresh Raina feels Mahendra Singh Dhoni is the best captain India ever had.

Raina and Dhoni play for the same IPL franchise -- the Chennai Super Kings --, which is also led by the latter.

"I think we have the best captain who has changed the Indian team like anything. Now we have that same aura in our dressing room," Raina said on 'The Super Kings show' on Star Sports Tamil.

The 38-year-old Dhoni has retired from Test cricket but his future in the limited overs formats is a subject of intense speculation.

The two-time World Cup-winning former captain took a break from cricket after India's exit from the 2019 World Cup in England. He is set to be back in action at the IPL, where he will captain the CSK, starting March 23.

With three restricted stands at the MA Chidambaram Stadium in Chennai finally being reopened, Raina urged the fans to fill the venue in every CSK home game.

"We have all the seats available. Hopefully, we'll have more fans now so that there is it will be more energy on the field," the 33-year-old Raina, a former India batsman, said.

Raina, who last played for India in 2018, also expressed his excitement about the prospect of playing with CSK's latest acquisitions.

"This year we have a lot of new talent in our team. Piyush (Chawla) is there, then we have Hazelwood, Sam Curran, Sai Kishore from Tamil Nadu, he has been bowling really well for them. So, I think we have a lot of mixture of youngsters and seniors."

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