United Spirits Limited has made an investment in Nuvola Spirits Private Limited by way of subscription to 17,350 compulsorily convertible preference shares and 10 equity shares of Nuvola for an aggregate consideration of ₹2.69 crore.
JSA Advocates and Solicitors advised United Spirits on this transaction.
The transaction was led by Probir Roy Chowdhury (Partner) and Yajas Setlur (Partner), with support from Bhargavi Kuchewar (Senior Associate), Associates Moushami Nayak and Tejaswini Sundar.
Nuvola is a craft beverage company behind premium alcoholic brands Mikiamo and Seoulmate, which bring diverse international liquor flavours to the Indian market.
The investment forms part of United Spirits strategy to expand its portfolio by backing high-potential, home-grown beverage brands and helping them scale through capital and industry expertise.
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