Acquisitions19 Jun 2025, 07:42 pm
United Spirits to Acquire Majority Stake in Nao Spirits & Beverages for INR 109.80 Crores
AI Summary
United Spirits Ltd. has approved the purchase of equity shares from existing shareholders of Nao Spirits & Beverages Private Limited (NAO) and subscription of fresh shares of NAO. The transaction will result in NAO becoming a subsidiary of United Spirits Ltd., with the company holding approximately 97.07% of the paid-up share capital following the successful completion of both the acquisition of shares and the fresh subscription. The board has also authorized further investment in NAO of up to INR 20 crores.
Key Highlights
- United Spirits to acquire approximately 97.07% of Nao Spirits & Beverages for INR 109.80 crores
- NAO to become a subsidiary of United Spirits following the successful completion of the transaction
- The transaction includes the purchase of equity shares from existing shareholders and fresh subscription to equity shares and Compulsorily Convertible Preference Shares (CCPS)
- The board has authorized further investment in NAO of up to INR 20 crores
- NAO is an alcohol beverage company engaged in the development, marketing & sales of craft alcoholic beverage products