United Spirits Limited on Monday said it has amended and restated the share purchase agreement (SPA) for the sale of its stake in Royal Challengers Bangalore, to reflect a change in the investor line-up, while keeping the deal value and commercial terms unchanged.
In a regulatory filing, the company said the amended and restated SPA, executed on May 11, follows a purchaser change notice received earlier this month. The revised pact introduces Big Banyan Holdings, Times Cricket LLP and ICQ Opportunities RC Holdco as additional buyers, while Aelius Investments and Metropolitan Media Company have exited the transaction.
The transaction relates to the sale of 14,690 equity shares of Royal Challengers Bangalore (through Royal Challengers Sports Pvt. Ltd.), with the aggregate consideration remaining at ₹166.6 billion. United Spirits clarified that the change only reflects a reorganisation of the legal entities through which the investor consortium is participating, and does not alter the underlying ownership structure or economics of the deal.
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The original SPA was signed on March 24, 2026, and had received board approval the same day. Apart from the change in purchasers, all material terms, representations, warranties, and indemnities remain the same, the company said.
