Diageo exits HipBar; sells stake to JV partner for Rs.52-L

UK-based liquor company Diageo had exited from its investment in Chennai-based startup HipBar at around a 98% loss. Diageo, which invested INR 27 crore in HipBar through its domestic entity USL for a 26% stake in 2018, is selling back the entire stake to the startup's promoter Prasanna Natarajan for INR 52 lakh.