iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

United Spirits board approves investment of Rs31.50 crore in Nao Spirits -; Beverages

14 Mar 2022 , 10:42 AM

United Spirits

The board of directors of United Spirits Limited at its meeting held Saturday has approved the investment in Nao Spirits & Beverages Private Limited by:

(i) subscribing to 8,094 Compulsory Convertible Preference Shares (CCPS) and 10 equity shares of NAO equivalent to 14.29% of its issued and paid up share capital on a fully diluted basis; and

(ii) purchasing, from existing shareholders, 4,660 equity shares of NAO equivalent to 8.21% of its issued and paid up share capital on a fully diluted basis, collectively resulting in the Company owning 22.50% of the equity share capital of NAO on a fully diluted basis for an aggregate consideration of Rs31.50 crore.

At around 10.45 am, United Spirits Ltd was trading at Rs861.20 per piece up by Rs9.7 or 1.14% from its previous closing of Rs851.50 per piece on the BSE.

“As an alcohol beverage company, NAO is engaged in the business of development, marketing & selling of craft alcoholic beverage products, both within and outside India.

With this investment, Company enters the Indian provenance premium craft gin segment complimented by its world class premium & luxury gin portfolio of Gordon’s and Tanqueray,” company said in a filing.

Related Tags

  • acquisition
  • investment
  • Nao Spirits & Beverages
  • stake
  • United Spirits Limited
  • United Spirits news
  • United Spirits share price
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.