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United Spirits Limited ( (IN:UNITDSPR) ) has shared an announcement.
United Spirits Limited has approved a further investment of INR 3.2 crore in V9 Beverages Private Limited, known as Sober, through the subscription of 1,762 compulsorily convertible preference shares. This transaction, structured as a related-party deal at arm’s length, will raise United Spirits’ stake in the zero-alcohol beverage company from 15% to 25% on a fully diluted basis, and is intended to fund Sober’s operating cash losses while supporting its growth and expansion in the emerging zero-proof alcohol segment.
More about United Spirits Limited
United Spirits Limited, part of Diageo India, operates in the alcoholic beverages industry with a portfolio spanning spirits and related drinks, and is increasingly engaging with adjacencies such as zero-alcohol and low-alcohol offerings to tap evolving consumer preferences in India’s beverage market.
Average Trading Volume: 59,696
Technical Sentiment Signal: Hold
Current Market Cap: 981.8B INR
See more insights into UNITDSPR stock on TipRanks’ Stock Analysis page.