IMFL manufacturer, Tilaknagar Industries Limited (TI) has made a follow-on investment of ₹10.66 crore in Spaceman Spirits Lab Private Limited (SSL), the maker of premium craft spirits such as Samsara Gin; Sitara Rum and Amara Vodka.
While ₹9.15 crore is part of the previously announced ₹13.15 crore investment envisaged under the September 2024 agreement between TI and SSL, the balance ₹1.51 crore is being invested to acquire shares from some of the early shareholders in SSL.
With this investment, TI’s stake in SSL increases from 12.98% to 21.36% on a fully-diluted basis. The definitive agreements further provide TI with the option to invest additional capital or acquire further stake from other shareholders at a pre-determined valuation methodology, subject to SSL achieving certain pre-agreed milestones.
Ameya Deshpande, President – Strategy and Corporate Development, Tilaknagar Industries said, “Our continued investment in Spaceman Spirits Lab reflects our conviction in the enduring appeal of premium craft spirits in a rapidly evolving market. Their thoughtfully curated portfolio featuring Samsara Gin, Sitara Rum and Amara Vodka demonstrates innovation, quality and craftsmanship. We are excited to deepen our partnership as Spaceman enters a new phase of growth.”
According to TI, the company is subscribing to 1,772 equity shares and 11,752 Compulsorily Convertible Preference Shares for ₹9.15 crore. Further, TI is acquiring 2,236 equity shares from existing SSL shareholders for ₹1.51 crore.
Aditya Aggarwal, Founder and Managing Director, Spaceman Spirits Lab, said, “We are thrilled to deepen our partnership with Tilaknagar Industries as we embark on a bold new chapter. With Tilaknagar’s extensive distribution network and industry leadership, we are excited to take our iconic brands to every corner of India.”
SSL is preparing to diversify its product portfolio with strategic forays into new categories including whisky, heritage liqueurs and tequila. “We are anticipating robust performance in the current fiscal, with projected revenue growth of nearly 70% and volume growth of about 60% in FY26,” Aggarwal added.
Tilaknagar Industries is expected to leverage its distribution network to sell Samsara Gin, Sitara Rum and Amara Vodka in certain states in India and abroad.
