United Spirits picks 10.08% stake in craft spirits startup Nuvola

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AI summary

United Spirits to invest INR 2.69 crore for 10.08% stake in Nuvola Spirits, maker of craft liqueur brands Mikiamo and Seoulmate. Deal is via 17,350 CCPS and 10 equity shares in cash. Nuvola revenue was nil in FY24, INR 0.38 crore in FY25 and INR 3.50 crore in FY26 (unaudited). United Spirits gets option to acquire remaining stake if Nuvola hits milestones. Not a related party deal.

Likely market impact

Small strategic bet on premium craft beverages. Lets United Spirits back innovative founders with an option to scale up if Nuvola hits milestones.