United Spirits Limited has formally amended its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information. Approved by the Board of Directors on May 14, 2026, the updated policy strengthens the internal framework for handling sensitive corporate information. The changes, effective from May 15, 2026, emphasize a need-to-know approach to information sharing and outline stringent protocols for interactions with analysts and investors to maintain market transparency.
Strengthening Governance Standards
The updated code reinforces the commitment of United Spirits Limited to maintaining high standards of transparency and corporate governance. By refining the procedures for managing sensitive information, the company aims to ensure that all material data is handled with the highest level of confidentiality until it is publicly disseminated. This initiative is designed to prevent selective disclosures and protect the interests of all stakeholders.
Key Protocols for Information Management
The revised policy mandates a strictly need-to-know basis for the internal circulation of sensitive information. Key highlights of the framework include:
- Uniform Dissemination: Ensuring that all material information is communicated simultaneously and fairly to ensure universal access for all investors.
- Analyst Engagement: Standardized guidelines for management interactions with research analysts and institutional investors, prohibiting the selective disclosure of non-public information.
- Verification Procedures: A clear mechanism for responding to media reports and market rumors, overseen by designated company officers to ensure factual and timely clarifications.
Defining Legitimate Use
The policy provides a structured approach for the legitimate sharing of information in the ordinary course of business. This includes necessary communications with partners, auditors, legal advisors, and regulatory authorities to support operations like consolidated account preparation or shared business service models. Any individual receiving such information is designated as an insider and is contractually obligated to maintain strict confidentiality.
Effective Implementation
The Board of Directors approved these enhancements on May 14, 2026, with the new policy becoming operational from May 15, 2026. The company remains committed to keeping this framework dynamic, allowing for periodic updates to reflect evolving statutory requirements and best practices in the industry.
Source: BSE
