United Spirits Limited Invests in Nuvola Spirits Private Limited Acquiring 10.08% Stake
United Spirits Limited has made an investment in Nuvola Spirits Private Limited (NSPL), acquiring a 10.08% stake through the subscription of compulsory convertible preference shares and equity shares. The acquisition, valued at INR 2.69 crore, aligns with United Spirits' strategy to back innovative founders and capitalize on emerging consumer trends within the premium craft beverage segment.The investment involves subscribing to 17,350 Compulsory Convertible Preference Shares (CCPS) and 10 equity shares of NSPL. The transaction is structured as a cash consideration deal.
Investment Details and Target Company Profile
Nuvola Spirits Private Limited operates in the alcohol and non-alcohol beverage industry. The company specializes in developing, producing, marketing, and selling alcoholic beverages under its brands 'Mikiamo' and 'Seoulmate'. These are craft liqueur brands. NSPL is currently based in India, with all revenue generated domestically.The investment targets the growing consumer appetite for globally inspired beverages, distinguishing NSPL by crafting products that utilize Italian and Korean flavor profiles. NSPL's product portfolio includes Soju (Korean RTD spirit) and Limoncello, alongside Meloncello and Amara Rosso (Italian liqueurs).
Key details regarding NSPL's financials and the acquisition are summarized below:
| Particular | Detail |
|---|---|
| Target Company Name | Nuvola Spirits Private Limited (NSPL) |
| Investor Stake Acquired | 10.08% on a fully diluted basis |
| Consideration for Acquisition | INR 2.69 crore |
| Shares Subscribed | 17,350 CCPS and 10 equity shares |
| Acquisition Completion Timeline | On or before September 21, 2026 |
Shareholder Agreement Terms
The share subscription is formalized through a Share Subscription and Shareholder Agreement (SSHA) entered into on July 22, 2026. The SSHA involves the Company, NSPL, and founders Raghav Sachdeva and Aakriti Sachdeva.Under the terms of the agreement:
- Investor Rights: United Spirits Limited has the right to appoint one director and an observer to the Board of NSPL.
- Protective Clauses: The SSHA includes tag-along and drag along rights, allowing for coordinated actions in connection with any proposal by the promoters of NSPL to transfer shares to a third party. Additionally, the promoters hold a right of first offer should the Company propose to transfer its shares.
Regarding the background of the acquired entity (NSPL), it was incorporated on August 2, 2023, and founded by Raghav Sachdeva and Aakriti Sachdeva.
The financial performance data for NSPL across the last three fiscal years is as follows:
| Fiscal Year | Sales Value |
|---|---|
| FY 23-24 | NIL |
| FY 24-25 | INR 0.38 crore |
| FY 25-26 (un-audited) | INR 3.50 crore |
UNITDSPR Stock Price Movement
United Spirits Limited shares edged higher on Wednesday, settling at ₹1404.2 after gaining 1.14%. The stock saw a robust trading day as it rallied from an intraday low of ₹1375.7 and cleared its high-volume session with 666,171 trades executed.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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