United Spirits Ltd (USL), has bought 26% stake in HipBar for Rs.27 crore. HipBar is an electronic payment platform servicing alcoholic beverage industry.

In a regulatory filing the company stated that, it has subscribed to 4,567,568 equity shares of Hip Bar at Rs.59.11 per equity share. USL, which is a part of Diageo group further stated that, HipBar’s platform should provide growth opportunities for its on-line, e-commerce route to market.

Anand Kripalu, Diageo India CEO and Managing Director stated, “E-commerce is making an impact on just about every industry imaginable, and the beverage alcohol industry is set to be the next sector to be disrupted by the continued shift to digital.”

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