United Spirits takes 10% stake in craft liqueur startup Nuvola for INR 2.69 crore
What's the deal? United Spirits LimitedDealroom has a profile for this one. Try Dealroom → (USL) will invest INR 2.69 crore for a 10.08% stake in Nuvola Spirits Private Limited (NSPL), a craft liqueur startup. The deal is structured through 17,350 Compulsory Convertible Preference Shares and 10 equity shares, representing NSPL's fully diluted share capital.
Who is Nuvola? Incorporated on August 2, 2023 by Raghav Sachdeva and Aakriti Sachdeva, NSPL makes globally inspired beverages with Italian and Korean flavour profiles. Its portfolio spans Soju, Limoncello, Meloncello, and Amara Rosso under the brands "Mikiamo" and "Seoulmate".
Why now? USL says the investment fits its strategy to back innovative founders and tap emerging trends in the premium craft beverage market. The company's board has approved the deal, an arms-length transaction with no promoter interest in NSPL.
By the numbers: For the year ended March 31, 2025, NSPL reported turnover of INR 0.38 crore and a negative net worth of INR 0.15 crore. Sales are projected to rise from INR 0.38 crore in FY24-25 to INR 3.50 crore in FY25-26.
What's next? USL expects to complete the acquisition on or before September 21, 2026.
The signal: The small cheque points to a familiar playbook — large drinks makers taking early minority positions in nimble craft startups to hedge on where premium consumer tastes head next.
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