Mumbai professor has 1.06% stake in USL, is worth over Rs 500cr

The author has posted comments on this articlePartha Sinha, TNN | Apr 16, 2014, 06.11AM IST

MUMBAI: A city-based Maharashtrian family that is barely known outside the small circle of Dalal Street veterans, has suddenly burst into the limelight in Diageo's bid to gain total control of United Spirits Limited.

According to the latest shareholding pattern for USL on the BSE, Shivanand Shankar Mankekar, a professor at a college in central Mumbai, is holding 1.06% of USL, making him the largest Indian shareholder in the spirits major. None of the other Indian shareholders, including the institutional ones that include Reliance Mutual Fund, DSP BlackRock MF, SBI MF and UTI MF, hold more than one per cent in the Bangalore-based company.

The family maintains a low profile and declined to speak to TOI.

According to data from BSE and Bloomberg, other than their stake in USL, which was worth nearly Rs 440 crore at Tuesday's close of trading, Mankekars also hold a 6% stake in Talwalkar Better Value Fitness, which is worth Rs 26 crore, 3.7% in Shasun Pharma worth Rs 18.6 crore, 2.23% in MT Educare, worth Rs 7.7 crore and 1.9% in Galaxy Entertainment, worth about Rs 30 lakh.

In March, the family bought nearly 3% in Financial Technologies (FTIL), which is now worth about Rs 49 crore.

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