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
January 5,2020

Mumbai, Jan 5: All-rounder Irfan Pathan on Saturday announced his retirement from all forms of cricket, ending an injury-ridden career that prevented him from realising his true potential.

The 35-year-old's retirement was on expected lines, considering he last played a competitive game in February 2019 during the Syed Mushtaq Ali trophy for Jammu and Kashmir.

He did not even put himself in the IPL auction pool, last month.

The left-arm seamer's bowling was like a breath of fresh air when he made his India debut against Australia at the Adelaide Oval in 2003.

He never had express pace but his natural ability to swing the ball into the right-handers got him instant success, also drawing comparisons with the great Kapil Dev.

It seemed India had found the all-rounder they were looking for since Kapil left the scene. Pathan, who last played for India in October 2012, featured in 29 Tests (1105 runs and 100 wickets), 120 ODIs (1544 runs and 173 wickets) and 24 T20 Internationals (172 runs and 28 wickets).

He was part of the victorious Indian team at the 2007 World Twenty20 and was the man-of-the-match in the final against Pakistan.

One of his best performances came on the tour of Pakistan in 2006 when he became the second Indian after Harbhajan Singh to take a Test hat-trick, removing Salman Butt, Younis Khan and Mohammad Yusuf during the Karachi game.

He also played a big role in India winning a Test match against Australia on a tough Perth wicket, which offered steep bounce.

Injuries and lack of form troubled him thereafter and his ability to swing the ball deteriorated.

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News Network
March 3,2020

Sydney, Mar 3: Former Australia pacer Brett Lee foresees a "different" looking India making their maiden T20 Women's World Cup final and attributed their rise to the emergence of star players like 16-year-old Shafali Verma.

Besides opener Shafali, experienced leg-spinner Poonam Yadav has been the other match-winner for India in the competition. The Harmanpreet Kaur-led side topped the group stage with four wins in as many games and play their semifinal here on Thursday.

"They've never reached the final but this is a different India team from the one they’ve seen before. They've combined match-winners in Shafali Verma and Poonam Yadav with consistent players with both bat and ball," Lee was quoted as saying by ICC.

"We've always known they have some of the best players in the world but now Harmanpreet Kaur has a team around her that can support the big players, and fill in the gaps when they have an off day."

Only a special effort from their opponents can stop India from reaching their maiden final, feels Lee.

They'll go into the semi-finals full of confidence and it will take an excellent team to stop them from reaching the Final."

Talking more about Shafali, who has got 47, 46, 39, and 29 so far, Lee backed the teen sensation to make a bigger score in the semifinal.

"Shafali Verma has been excellent at the top of the order, she’s brought a fearless energy to India’s batting and been brilliant to watch.

"You feel she can go even bigger as well – she hasn't reached 50 yet, which is both exciting for those watching and worrying for the bowlers.

"We saw from the opener against Australia just how good India can be, and it’s no surprise they’ve continued that form to top Group A," he added.

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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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