Vijay Mallya, the former "King of Good Times," continues to be a figure of both fascination and controversy in India. Despite facing charges of fraud and money laundering, and having fled to the UK in 2016, Mallya's name still surfaces in discussions about Indian stocks and financial recoveries. The question of whether he still owns Indian stocks, and if they are worth investing in, is complex and requires a nuanced understanding of his current situation.
As of March 31, 2025, it's confirmed that Vijay Mallya still holds shares in at least three publicly listed companies in India. The most significant holding is in United Breweries Ltd (UBL), the maker of Kingfisher beer, where he holds approximately 8.08% of the company, amounting to over 21 million shares. This stake is valued at over ₹4,456.7 crore as of June 9, 2025, making him the largest individual shareholder within the promoter group. He also holds a small stake (0.01%) in United Spirits, worth approximately ₹10 crore. Additionally, Mallya holds a few shares in McDowell Holdings Ltd, but this stock is currently suspended from trading.
However, it's important to note that a significant portion (98.11%) of Mallya's shares in United Breweries are pledged. This means that while he technically owns the shares, he has used them as collateral for loans, and his control over them is limited. Furthermore, the Securities and Exchange Board of India (SEBI) has barred Mallya from accessing the securities market and associating with any listed company for three years, starting in July 2024. This restriction further limits his ability to directly manage or trade his existing holdings. SEBI has also frozen his existing securities holdings, including mutual fund units.
Despite the legal battles and asset seizures, Mallya's net worth was last estimated at $1.2 billion in July 2022. This wealth is derived from various assets, including international properties like a penthouse in New York's Trump Plaza and the Le Grande Jardin estate in France. While Indian authorities have been successful in recovering a substantial portion of the funds owed by Mallya, primarily through the Enforcement Directorate (ED), he maintains that he is willing to return to India if assured a fair trial.
Regarding the investment potential of the stocks linked to Vijay Mallya, particularly United Breweries, it's crucial to consider the company's performance independent of its controversial shareholder. UBL, now part of the HEINEKEN Company, is a leading beer manufacturer in India with a history dating back to 1915. The company's stock has shown steady growth over the long term, with significant gains over the past decades. While the stock's performance has fluctuated in the short term, its strong market position and brand recognition suggest continued potential for growth. Investors should conduct their own due diligence and consider factors beyond Mallya's involvement when making investment decisions.
Ultimately, while Vijay Mallya's name remains intertwined with these Indian stocks, particularly United Breweries, his direct influence on these companies is waning due to legal restrictions and changes in ownership. Whether or not these stocks are worth your money depends on your individual investment goals, risk tolerance, and assessment of the companies' underlying fundamentals.
