Lalit Khaitan family owned Radico Khaitan Ltd is planning to sell about 26 per cent stake to global drink giants according to reports of financial newspaper The Economic Times. Bacardi and Pernod Ricard have shown interest to buy stakes in Radico as per banking and industry sources.

Radico Khaitan is the second largest spirits company in the country and known for its liquor brands 8PM Whiskey and Magic Moments Vodka. Promoters hold 48.7 per cent stakes in Radico Khaitan Ltd.

The paper quotes, "They are looking at selling 26 percent stake in RKL. Alternatively, the family may explore hiving off the branded business into a separate company to divest a substantial stake there." The sources said that promoters are still discovering new buyers to get reasonable price for their stake. The shares of RKL were trading with 3.39% increase at Rs 71.60 at the Bombay Stock Exchange.

It should be recalled that United Spirits is also divesting up to 14.99% stake to the world's largest drinks firm, Diageo. Diageo has also joint venture with Radico Khaitan which is likely to be terminated after completion of deal with United Spirits.