Scottish distiller Whyte & Mackay is reportedly preparing to list on the London Stock Exchange.

Its owner, Indian tycoon Vijay Mallya, has asked advisers at investment bank Citi to evaluate options to bring Whyte & Mackay to the stock market, either as a standalone entity or as part of Mallya's United Spirits business, according to reports in the Daily Telegraph.

The listing is likely to take place next year and Mallya is looking for a price similar to that of Diageo, the reports add.