United Spirits Completes ₹2.69 Cr Investment in Nuvola Spirits

United Spirits Ltd has announced the completion of its investment in Nuvola Spirits Private Limited (NSPL) by subscribing to 17,350 Compulsory Convertible Preference Shares (CCPS) and 10 equity shares for an aggregate consideration of INR 2.69 crore. This investment represents 10.08% of NSPL's issued and paid-up share capital on a fully diluted basis. NSPL is an alcohol and non-alcohol beverage company focused on developing, producing, marketing, and selling craft liqueur brands like Soju, Limoncello, Meloncello, and Amara Rosso, with Italian and Korean flavor profiles. The company's strategy is to back innovative founders and capitalize on emerging consumer trends in the premium craft beverage segment. This transaction is not considered a related party transaction, and promoters/group companies have no interest in NSPL. United Spirits also has an option to acquire the remaining shares held by other shareholders upon NSPL achieving certain pre-agreed milestones.