United Spirits Limited (USL) has announced an amendment to its Share Purchase Agreement regarding the sale of 14,690 equity shares of Royal Challengers Sports Private Limited (RCSPL). The transaction, valued at INR 166.6 billion, remains unchanged in structure and consideration. The update reflects a reorganization of the purchasing consortium, introducing new entities while retiring others to facilitate the transition.
Consortium Reorganization Details
On May 11, 2026, United Spirits Limited (USL) finalized an amended and restated share purchase agreement for its stake in Royal Challengers Sports Private Limited (RCSPL). The update confirms that the underlying transaction, which involves the sale of 14,690 equity shares for an aggregate consideration of INR 166.6 billion, remains fully intact.
Change in Purchaser Composition
The agreement facilitates a shift in the legal entities forming the buyer consortium. The newly introduced Additional Purchasers, namely Big Banyan Holdings Pte. Ltd, Times Cricket LLP, and ICQ Opportunities R C Holdco, Ltd, have joined the agreement. Concurrently, Purchaser 2 and Purchaser 5 are retiring from the transaction. The ongoing obligations and rights under the original agreement have been seamlessly assumed by the continuing and new consortium members.
Strategic Continuity
Despite the changes in the participating entities, the fundamental commercial structure and essential terms of the deal remain unchanged. The company confirmed that this amendment does not impact the total financial value of the sale, nor does it alter the customary warranties, representations, and indemnities previously established in the agreement dated March 24, 2026.
Source: BSE
