Investment6 Aug 2025, 05:32 pm
Tilaknagar Industries Invests INR 10.66 Crore in Spaceman Spirits Lab, Increasing Stake to 21.36%
AI Summary
Tilaknagar Industries Limited (TI) has made a follow-on investment of INR 10.66 crore in Spaceman Spirits Lab Private Limited (SSL), the maker of premium craft spirits. This investment increases TI's stake in SSL from 12.98% to 21.36% on a fully-diluted basis. The definitive agreements also provide TI with the option to invest additional capital or acquire further stake from other shareholders at a pre-determined valuation methodology, subject to SSL achieving certain pre-agreed milestones. The investment includes subscribing to equity shares and Compulsorily Convertible Preference Shares, as well as acquiring shares from existing SSL shareholders.
Key Highlights
- Tilaknagar Industries invests INR 10.66 crore in Spaceman Spirits Lab
- TI's stake in SSL increases from 12.98% to 21.36% on a fully-diluted basis
- Additional investment option provided to TI based on SSL's milestones
- SSL preparing to diversify product portfolio with new categories
- Tilaknagar to leverage its distribution network for Samsara Gin, Sitara Rum and Amara Vodka