
Business Update24 Jul 2024, 01:17 am
United Spirits Ltd. Acquires Stakes in V9 Beverages and Indie Brews for INR 7.29 Crore
AI Summary
United Spirits Ltd. has announced the acquisition of stakes in two companies, V9 Beverages Private Limited and Indie Brews and Spirits Private Limited. The company will invest INR 2.29 crore in V9 Beverages, which is equivalent to 15% of its fully diluted share capital, and INR 5 crore in Indie Brews, which is equivalent to 25% of its fully diluted share capital. The investments are part of the company's strategic growth plans and are subject to regulatory approvals.
Key Highlights
- United Spirits Ltd. to invest INR 2.29 crore in V9 Beverages Private Limited
- United Spirits Ltd. to invest INR 5 crore in Indie Brews and Spirits Private Limited
- Investments equivalent to 15% and 25% of the fully diluted share capital respectively
- Investments subject to regulatory approvals
- Part of the company's strategic growth plans