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Through various companies and entities like United Breweries Holdings (UBHL), Mallya once held stakes in: United Breweries, United Spirits, McDowell Holdings etc.
Indian fugitive Vijay Mallya chose Raj Shamani’s podcast to speak “his truth” after 9 years. (Raj Shamani / YouTube)
Vijay Mallya, the once-flamboyant businessman and former owner of Kingfisher Airlines, is trending on social media following a four-hour interview with popular YouTuber Raj Shamani. In the podcast, he discussed the failure of Kingfisher Airlines, being labelled a ‘chor’ (thief), the conditions for his return to India, and more.
Mallya is a fugitive economic offender facing charges of financial fraud and money laundering in India. His assets, including shares in various companies, have been frozen or confiscated by enforcement agencies.
With Mallya back in the spotlight, public interest in his life, businesses, net worth, and investments has resurfaced.
Which Stocks Did Vijay Mallya Own?
Through various companies and entities like United Breweries Holdings Ltd (UBHL), Mallya once held stakes in: United Breweries (UBL), known for Kingfisher Beer; United Spirits (USL); McDowell Holdings (a financial holding company); and Kingfisher Airlines (now defunct and delisted).
He also had direct or indirect associations with Mangalore Chemicals & Fertilizers, Herbertsons, and other companies.
Many of these holdings have been diluted, sold off, or are currently under litigation, with some shares attached by agencies like the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI).
Can Vijay Mallya Still Trade?
Vijay Mallya cannot legally trade in India. He is declared a “Fugitive Economic Offender” under the Fugitive Economic Offenders Act, His Indian assets are frozen or seized, and the Securities and Exchange Board of India (SEBI) has barred some UB group entities from accessing the securities market.
He is currently fighting extradition from the UK to India.
Can You Still Buy Shares Once Held by Vijay Mallya?
Shares of United Breweries are publicly traded on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE), and anyone can purchase them. Essentially, anyone can invest in the companies in which Mallya formerly held stakes. These stocks are now largely held by institutional investors (e.g., Diageo owns a majority of UBL).
However, investors should conduct thorough due diligence before investing in any company under litigation or facing legal issues, as these investments carry high risk. As with any investment, individuals should assess fundamentals, valuations, outlook, and consult expert advice before making any decisions.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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