Tag Archives: Alcobev India

Penfolds grows exponentially in the Indian market

For over 180 years, Penfolds has been at the forefront of Australian winemaking, known globally for its pioneering spirit, craftsmanship, and commitment to quality. Established in 1844, the brand has built a reputation for creating highly regarded collectible wines, underpinned by its distinctive philosophy of multi-vineyard, multi-regional blending. Yodissen Mootoosamy, General Manager, Penfolds Global Sales outlines Penfolds strategy for the Indian market.

Yodissen Mootoosamy, General Manager, Penfolds

What kind of presence does Penfolds have in India?

Our key focus markets in India include Mumbai, Delhi, Bangalore, Haryana and Rajasthan. In addition to these markets, we are also actively expanding into high-potential regions such as Pune, as part of our broader strategy to strengthen Penfolds’ presence across India and drive market penetration. Additionally, our wines are also available in Uttar Pradesh, Tamil Nadu, Chandigarh and Uttarakhand.

What are the wines available in India?

Penfolds current portfolio in India includes our Koonunga Hill range, Bin offerings such as Bin 2 Shiraz Mataro, Bin 28 Shiraz, Bin 128 Coonawarra Shiraz, Bin 389 Cabernet Shiraz and Bin 407 Cabernet Sauvignon. The portfolio is thoughtfully selected based on key considerations such as consumer demand, pricing strategy and value chain alignment, ensuring we deliver both quality and accessibility for Indian wine consumers.

This selection is especially relevant in light of the growing premiumisation trend in India—66% of consumers report buying more premium wines than before, with 58% saying they are purchasing more high-end wine. Coupled with the increased consumption of wine during celebrations or special occasions, this presents a unique opportunity for Penfolds to offer elevated experiences that resonate with evolving consumer preferences.

What is your narrative for Penfolds wines in India?

With growing interest in global wine culture among Indian consumers, there is a unique opportunity to bring the story of Australian wine to a broader Indian audience. At Penfolds, we see education and storytelling as fundamental to building a lasting connection with the new generation of Indian wine enthusiasts—many of whom are just beginning to explore the world of global wine culture. We do this by bringing the Penfolds story to life from our rich 180 year plus winemaking legacy in Australia to our global collection that now includes wine from the U.S.A, France and China.

We conduct immersive and curated tasting sessions, masterclasses, and interactive events that go beyond the technicalities of wine and focus on its experience such as what it feels like to discover a new varietal, how wine can elevate local cuisine and the stories behind icons like Penfolds Grange. These activations are designed not only for connoisseurs, but also for curious first-time drinkers who are eager to learn, explore and connect with wine in a way that feels authentic and aligned with their lifestyle.

We also embrace India’s vibrant calendar of celebrations and gifting traditions by offering festive

packaging that elevates the experience of gifting wine. We introduced our limited-edition Bin 389 Cabernet Shiraz and Bin 2 Shiraz Mataro gift packs in India this year, both of which are thoughtfully designed to capture the warmth and richness of festive celebrations, featuring textured finishes and a refined palette of deep red and gold accents.

Beyond aesthetics, these packages are thoughtfully designed to make premium wine an aspirational yet approachable gift for weddings, Diwali, and other celebrations. By aligning with local customs and the importance of gifting in Indian culture, we position Penfolds as more than a bottle of wine—it becomes a meaningful gesture of sophistication and celebration. This approach allows us to tap into the emotional significance of gifting, creating a strong connection between Penfolds and life’s most memorable moments.

What are the price points for Penfolds wines in India?

Wine pricing in India varies across states due to local regulations and taxes. For example, Penfolds Bin 389 Cabernet Sauvignon Shiraz is priced between `8,320 and `11,800, while Bin 2 Shiraz Mataro ranges from `3,230 to `5,500.

We recognise that India’s alcobev market is highly state-driven, and our strategy reflects this complexity. By working closely with local partners and distributors, we aim to make Penfolds available in key metropolitan hubs and emerging wine markets, ensuring that enthusiasts and first-time buyers alike can experience our wines.

How do you plan to promote Penfolds wines in India?

India’s alcobev market is evolving, driven by millennials and Gen Z who are curious, experience- driven, and increasingly open to exploring premium wine as a lifestyle choice. At Penfolds, we see this as an opportunity to go beyond traditional marketing and create authentic, aspirational experiences that resonate with this new generation of consumers. We’ve been making strategic investments to connect with these consumers in meaningful and culturally relevant ways.

Through initiatives such as our culture-led limited-edition releases, and immersive wine tasting experiences, we’re redefining how consumers engage with wine. By blending elements of art, music, and storytelling, we aim to create memorable, multi-sensory experiences that go far beyond the traditional tasting, fostering a deeper, more emotional connection with the Penfolds brand.

We recognise that building awareness and aspiration around premium wines requires more than just availability—it requires education, experience, and engagement. Our strategy focuses on three key pillars:

Storytelling and Education: We aim to share the rich history and craftsmanship behind our wine through curated tastings, wine education programmes, and partnerships with sommeliers, wine influencers and content creators in India.

Experiential Marketing: We’re bringing the Penfolds experience directly to consumers through luxury retail placements, fine dining collaborations, exclusive tasting events and bar takeovers.

Tailored Portfolio: While we remain committed to showcasing our flagship wines like Penfolds Grange, we also offer a diverse portfolio that includes wines across various price points, ensuring accessibility while maintaining the distinct craftsmanship and quality Penfolds is known for.

Our focus is not just on selling wine, but on creating aspirational touchpoints that make wine more approachable, relevant, and desirable for a new wave of Indian consumers.

How is Penfolds faring worldwide?

Penfolds continues to resonate with consumers through innovation and cultural relevance. Initiatives such as our From Penfolds to the World pop-up and retail placements, limited-edition packaging and immersive tasting experiences like Transcend have reinforced brand equity, cementing Penfolds as a benchmark of excellence in the luxury wine category.

Which country is your major market?

Understandably, Penfolds resonates strongly in our home market in Australia, however Asia is a significant growth engine for the brand.

Within Asia, India stands out as a market with strong potential and promising long-term growth. While it’s still relatively young compared to more mature wine markets, the premium wine segment is at a very exciting inflection point, and the pace of evolution is remarkable. We’re seeing a growing base of urban, globally connected consumers who are not only willing to explore premium wines, but are also actively seeking authenticity, craftsmanship, and brand stories that resonate with their lifestyle.

Amrut Unveils “Mumbai Chi Maaya,” Its Landmark Mumbai City Edition

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Discover “Mumbai Chi Maaya,” a limited-edition single malt whisky
Captures the vibrant spirit of Mumbai

Amrut Distilleries has unveiled “Mumbai Chi Maaya,” a radiant single malt whisky. This limited-edition expression is an ode to Mumbai’s restless spirit, where crashing waves meet neon nights, and every soul carries a story waiting to be written.

Amrut chose Mumbai as the muse for “Mumbai Chi Maaya” because no other city holds together such intense resilience, ambition, and everyday joy under one bewitching spell. It is a city that has stood tall through some of the toughest chapters in recent history; the Gateway of India on the pack is not just a monument, but a symbol of a spirit that refuses to be broken, it’s very silhouette shimmering with the quiet maaya of survival and renewal.

The Bombay Stock Exchange embodies the electric magic of risk and reward, a daily high-wire act where fortunes turn in seconds, yet confidence endures, as if guided by an unseen hand. Wankhede Stadium recalls the unforgettable 2011 Cricket World Cup win, when an entire nation’s hope converged in Mumbai and burst into a moment so euphoric it felt almost unreal. The dabbawalas, rendered with pride, bring their own brand of maaya to the city—precision and hustle without error, moving thousands of tiffins flawlessly through chaos, as if by some invisible choreography.

“Mumbai Chi Maaya” salutes the quieter rituals defining the Mumbaikar’s life: dilemmas debated over vada pav, friendships renewed on station platforms, and calm found gazing at the Arabian Sea sunset. Mumbai’s local trains, the city’s lifeline, ferry over 7.5 million daily across 450 km, stitching suburbs to core and turning chaos into shared rhythm.

At its heart is the liquid: 48% ABV—a rarity for Indian consumers,mirroring Mumbai’s intensity with bold depth, structure, and palate length, yet refined and approachable. Each pour travels Mumbai’s bewitching maaya and magic

“The ‘Mumbai Chi Maaya’ Edition is a tribute to Mumbai’s extraordinary spirit—its aspiration, endurance, and everyday grace. From iconic landmarks and shared memories to quiet, personal moments, every detail in the pack and every sip honors our bond with a city where dreaming big is a way of life and reflects Amrut’s commitment to celebrating India’s roots and its remarkable cities through every handcrafted expression,” said Rakshit N Jagdale, MD Amrut Distilleries.

Karnataka to auction unused excise licences, to mop up additional Rs 1,000 crore revenue

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In the 2025–26 Budget, Chief Minister Siddaramaiah proposed allotting unused liquor licences through e-auction
To boost the State’s additional resource mobilisation.

The Karnataka Excise Department has initiated the process of auctioning unused retail licenses, in the hope of raising additional revenue of nearly Rs. 1,000 crores. The State Government has issued a gazette notification on the e-auctioning of 579 unused CL-2A (retail liquor shops), CL-9A (bars & restaurants), and CL-11-C (government-owned Mysore Sales International Limited) licences.

The government on November 3 had issued the final notification on the amendment to the Karnataka Excise (General Conditions of Licences) Rules, 1967, Karnataka Excise (Lease of the Right of Retail Vend of Beer) Rules, 1976 and Karnataka Excise (Sale of Indian & Foreign Liquors) Rules 1968 for e-auctioning of defunct/unused licences.

The amended rules are now called the Second Amendment Rules, 2025 in the above three categories. Two new license categories, CL-2A for CL2 (retail liquor shops) and CL-9A for CL-9 (bars & restaurants) have been created for the unused licenses under consideration for auction.

“This is the first time unused and unallotted Excise licences are being auctioned to generate revenue. The government is expecting to earn around Rs 1000 crore through the e-auctioning process. Some licences that the department had issued to government-owned MSIL (CL-11C) and were not opened have been taken back and are being auctioned under the CL-2A (CL2 retail liquor shops) category only. The CL-9A licences (CL9 bars & restaurants) that are being auctioned were discontinued and hence brought under the auction pool,” Joint Commissioner, Excise, Indian Made Liquor (IML), T Nagarajappa has said.

He added that 182 out of 569 will be auctioned for the eight (Excise) districts in Bengaluru Urban District (BUD) alone. Majority of licences will be auctioned for Bengaluru city. The rest will be auctioned in corporations and other taluks. CL-9A is likely to be auctioned for corporation areas like Bengaluru, Mysuru, Mangalaru and Belagavi.

Registration for bidders began on December 22, while live e-bidding will take place between January 13 and January 20, 2026, according to the gazette notification. Bidders can participate only after completing registration and confirming online payment in their wallet. They have been advised to complete the registration process at least 48 hours before the start of the auction slot they wish to participate in.

Base bidding for the auction is likely to be pegged at Rs 1.5crore for licences in Bengaluru city. For other areas, it may be between Rs 80 lakh and Rs 1 crore. The process of e-auction is slated to be over by January 10, 2026. The government is likely to mop up around Rs 600 crore revenue through the auctions, according to sources.

Interested bidders must register on the MSTC Limited e-auction platform. A one-time registration fee of Rs 1,000 plus applicable GST must be paid online. The application fee for each licence is a non-refundable Rs 50,000. The government has provided reservations in the auction process: six per cent each for Scheduled Caste-A and Scheduled Caste-B categories, five per cent for Scheduled Caste-C, and seven per cent for Scheduled Tribes for CL-2A and CL-9A licences. Discontinued or unallotted CL-2 and CL-11C licences have been reclassified as CL-2A, while discontinued CL-9 licences have been reclassified as CL-9A. Accordingly, 477 CL-2A and 92 CL-9A licences are available for e-auction.

For participating in the auction, bidders have to pay a non-refundable application fee of around Rs 50,000 and refundable Early Money Deposit (EMD) of around 3% of the base bidding price. MSTC Limited, a Government of India enterprise, will conduct these auctions through a transparent electronic (e-auction) system.

Shri Siddaramaiah, The Chief Minister of Karnataka

The Chief Minister Siddaramaiah had proposed allotting unused liquor licences through a transparent electronic auction to aid additional resource mobilisation for the State. He had made this statement while presenting the 2025-26 state budget. Details of the e-auction schedule are available on the Karnataka State Excise Department portal and the MSTC e-auction platform.

R.Chandrakanth

Ambrosia

Tilaknagar Industries Debuting Seven Islands Pure Malt Whisky

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Launch marks entry into whisky for India’s largest brandy producer
Seven Islands is an Indo-Scottish 100% Pure Malt Whisky, made with four distinct single malts

Tilaknagar Industries Ltd. (TI) has recently enterd into the premium whisky category with the launch of Seven Islands Pure Malt Whisky. Crafted from select Indian and Scottish malts, it is a distinct 100% pure malt expression.

The launch marks a significant strategic expansion for TI, best known for building India’s brandy market with icons like Mansion House and more recently, Monarch Legacy Edition, and comes on the heels of its announcement of the acquisition of Imperial Blue, the world’s third largest-selling whisky brand. With this, the 90-year-old company establishes whisky as its second major growth pillar alongside its long-standing leadership in brandy.

“India’s whisky story is evolving faster than ever, with growing consumer demand for premium and luxury expressions. Seven Islands marks TI’s entry into this dynamic category, bringing together Indian craftsmanship and global expertise to create a whisky that is both distinctly Indian and globally competitive. With whisky commanding over 60% of India’s spirits market, expanding into this category was the next natural step for us,” said Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries.

A New Style of Whisky

Seven Islands introduces a style that moves beyond the single-malt focus that has shaped recent conversations around Indian whisky. As a pure malt, it blends four single malts—two from India and two from Scotland, allowing it to draw unique characteristics from multiple distilleries, regions and maturation styles.

The Indian malts are sourced from the Himalayan foothills and the Vindhyan ranges, bringing the influence of high-altitude and tropical ageing. These are paired with malts from Speyside and the Lowlands, two of Scotland’s most recognised whisky regions. This Indo-Scottish duality creates a profile not possible through a single-region malt. With single malts driving recent premium growth, Seven Islands offers a new direction: a pure malt style shaped by two climates, two traditions, and a more complex blending philosophy.

A Tribute to Mumbai’s Seven Islands

Seven Islands takes its name from the archipelago of seven islands that once formed the city of Mumbai—the long-time home of Tilaknagar Industries and the backdrop to much of its growth. This connection is built into the bottle design. Two converging lines create the V-cut neck, hinting at the Indian and Scottish malts coming together, while fine cartographic lines reference the contours of the original islands. At the centre sits an anchor motif, a nod to Mumbai’s maritime heritage. The palette of sage, cream and gold keeps the design crisp, contemporary and quietly premium.

“Seven Islands reflects our vision for House of TI, our new vertical which includes our premium portfolio and investments arm. House of TI was created to shape our premium and craft-led portfolio, beginning with Monarch Legacy Edition. With Seven Islands, we wanted to bring a new perspective and style to Indian whisky. It felt like the right way to introduce something distinctive, and a meaningful step forward for us as we expand into the whisky category,” said Sanaya Dahanukar, Marketing Manager, Tilaknagar Industries.

The Whisky Opportunity in India

Whisky remains India’s most loved and aspirational spirits category, accounting for about 66% of total consumption in 2024 according to IWSR. By volume, Indian whisky grew 7% year-on-year in H1 2025, crossing 130 million cases and showing continued premiumisation. Exports are expanding as well, signalling rising global interest in Indian-made whiskies and premium expressions. For TI, a company that has built scale and expertise through long-standing leadership in brandy, the opportunity in whisky presents a clear and timely growth avenue.

Tasting notes:

Colour: Natural, brilliant, golden yellow.

Aroma: Smooth and inviting, with tropical fruits, dried nuts, and hints of French and American oak layered with Indian spice.
Taste: Full-bodied and balanced, with sweet, dried fruits, soft spice, creamy texture, and a touch of smoke.
Finish: Long, smooth, and warm, with lingering notes of oak, spice, and dried fruits.

Product Details:

Size: 750 ml

ABV: 42.8%
Price & Availability: `5,200 (Maharashtra)

Ankur Jain Clarifies on Bira91 Crisis; Mixed Reactions

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The Founder and CEO of Bira91, Ankur Jain in a LinkedIn post has briefly addressed his ‘team’ on the ongoing crisis and there has been mixed reaction to the post, some baying for his blood, while others hoping that the brand will bounce back.

Jain’s post read “Most of you may have read media articles about the company in the past couple of days and I would like to address these articles and share light on the direction in which we are headed.

“First, my singular focus is on completing the fundraise and protecting the interests of Bira 91 and its employees. My commitment to Bira 91 and to each of you is foremost: I am in discussions with investors to secure the capital required to protect your interests and stabilize the business. A lot of you may have read recent media coverage on the progress we have made on capital raise in the recent days – and while there are still many bridges to cross, we are confident that we will be able to bring these efforts to a positive conclusion, subject to co-operation of our investors. All stakeholders have been supportive of positive outcomes for the company in the past, and we are sure that they will continue to stand by the company and support our efforts.

“Second, it is my commitment that employees are being and will be prioritized in entirety in the fundraise efforts. I am keenly aware of the disappointment and distress, however, trust me – no employee’s interest will be sacrificed as we succeed in our efforts. In the last ten plus years, my attempt has been to ensure that payroll goes out on time, even at the cost of other critical investments. Our track record from 2015 to early 2025 has demonstrated this value and prioritization, and I am confident continuing the same culture with the new fundraise. We have seen negative press on the company recently – which is inaccurate in several facts, unsubstantiated and driven by convoluted and cynical objectives. Despite this speedbump, I am optimistic that we will bring back Bira 91 on the growth highway.

“Third, I along with the management team are standing firm and are doubling-down on our efforts to restore the company to the heights we achieved together – including to raise capital and accelerate business operations. We are here to stay, and I firmly believe, no one cares about this team, brand and organization more than this leadership team. We are certainly the most committed team that wants to bring this company back to its much deserved health, and in short order, we will get there.”

A strong reaction came from Arun Purohit, a minority stakeholder in Bira, who said that Jain’s post was generic and did not address specific issues damaging the reputation of the company.

Purohit questioned “Why was the renaming planned and executed in such horrible/haphazard way that BIRA disappeared from all stores for months? Why proper compliance officers who handle excise and interstate logistics were not consulted?”

He also pointed to news items wherein some key employees had sought the removal of Jain from the post of CEO and wanted to know what brought things to this abysmal level. “The tone of your post communicates -BIRA is struggling for its fund raise. It doesn’t have clear support of existing investors today. I didn’t subscribe to the Rights issue. Thumb rule of investing: You are not ready for funds when seeking the investors out but when they are seeking you.”

Purohit concluded that Bira needed good management guidance and a person who can speak truth to the CEO. “Sycophants around will only drive you down the doom loop.”

A similar reaction came from Kedar.D who said “Bira91 asked employees to resign the same day, no warning, no option. HR was furious if someone delayed resignation by even a day — but now it’s been months and not a single full & final or Provident Fund has been cleared.

“You promised to pay dues and protect employees — but those same people are struggling with home loans, kids’ fees, and family needs.

“You don’t even reply to mails. Instead, you come here on LinkedIn to sound sympathetic.
Should I post screenshots of the conversations and promises made?” Kedar also questioned
Kirin Holdings Co., Ltd and Peak XV Partners asking them whether this is “your definition of leadership and accountability?”

Kirin, a global brewing major that owns around 20.1% of Bira 91, has been a key strategic investor since 2021. The Japanese company, known for its Kirin Ichiban beer, entered India through Bira to capture a share of the country’s rapidly growing premium beer segment. Peak XV (Sequoia Capital) was the largest shareholder in Bira with 24.83% holding.

There are vendors who have posted that their bills have not been cleared, one mentioned a bill of Rs. 17 lakhs pending.

Akshay Tiwari in his reaction to the post said he knew an employee whose daughter had been sent back home from school for not paying fees and a person who had defaulted on home loan. “You have literally destroyed people’s lives.”

But there are many who are backing Ankur Jain and the brand Bira to bounce back from these troubling times. The Senior Vice President, Chief of Integrated Supply Chain and People at Bira91, Sudhir Jain said “I am confident that Bira 91 will bounce back.”

Sources have told Ambrosia that there are a number of employees who haven’t got their salary arrears and also vendors who haven’t got their due payments running into lakhs, waiting to see how this plays out and then file criminal cases against the CEO. Sources reminded that this was playing out like Kingfisher where the employees who were left in the lurch filed court cases.

How Ankur Jain is going to navigate through these difficult times, remains to be seen. However, one aspect is crystal clear – those in the alcobev industry have to be up to date with the quagmire of excise rules of the various states, if they need to survive.

Ajay Devgn’s The GlenJourneys Enters India’s Premium Single Malt Market

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The GlenJourneys a luxury single malt brand co-founded by actor, entrepreneur Ajay Devgn, along with Cartel Bros, officially steps into the Indian retail space with its Cask Series. After the debut of its flagship Pioneer Edition, a rare Luxury 21-year-old Highland single malt priced at ₹50,000, which was available in select international duty-free shops, The GlenJourneysis now available in India with a premium edition priced at ₹ 6409. With this entry, the brand is aiming to capture 20% of India’s rapidly expanding luxury whisky single malt segment within the next two years in an industry currently growing at 7% year-on-year.

Crafted in the Scottish Highlands, The GlenJourneys new Cask Series—finished in Rum, Bourbon, and Sherry casks—has been curated exclusively for India, bringing together global whisky-making expertise with a vision tailored to the local market. The Pioneer Edition, with only 600 bottles released worldwide, positioned the brand on the global luxury map.

Maharashtra will be the first market for The GlenJourneys Cask Series, with the brand targeting 10,000 cases in the state by the end of this financial year. The next phase of the rollout will see launches across Haryana, Uttar Pradesh, Goa, and Chandigarh in November 2025, followed by other key markets in early 2026.

Left to Right: Rohan Nihalani, Manish Sani, Ajay Devgn, Mokksh Sani – Co-Founders of Cartel Bros, Luvish Sani – Director of The Cartel Bros

Mokksh Sani, Founder of Living Liquidz, Mansionz, and Co-founder of Cartel Bros, said, “Age refines a whisky— but a great cask defines it. Twelve years may give you a beautifully matured spirit, but a fine cask finish transforms it—it’s not just apple, it’s apple plus. Each expression in The GlenJourneys Cask Series reveals its own distinctive character on the palate, setting it apart from the conventional single malts that simply line the shelf.”

Ajay Devgn, Co-Founder of The GlenJourneys, added: “Globally, whisky lovers are chasing cask-finished malts for the craftsmanship they embody—where tradition meets innovation, and patience meets precision. The GlenJourneys elevates that pursuit with a Cask Series that’s been thoughtfully curated, where every finish reveals the quiet power of time, wood, and artistry.”

Carlsberg India Signs MoU with Ministry of Food Processing Industries, Commits ₹1,250 Crore Investment

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Carlsberg India, the wholly owned subsidiary of Carlsberg Group, announced the signing of a Memorandum of Understanding (MoU) with the Ministry of Food Processing Industries (MoFPI), Government of India, at World Food India 2025. The agreement reaffirms Carlsberg’s long-term commitment to India through proposed investments of ₹1,250 crore across key states.

The investments will strengthen Carlsberg India’s brewing and packaging footprint with investments of ₹500 crore towards a new greenfield facility in Ahilyanagar, Maharashtra, ₹400 crore for brownfield expansion in Hoogly, West Bengal, ₹350 crore for brownfield expansion in Mysuru, Karnataka (previously announced).

Over the next three years, Carlsberg India expects incremental procurement of nearly ₹600 crore in raw and packaging materials, directly benefitting industries such as malt production, glass, cans, cardboard, and logistics.

Speaking on the occasion, Nilesh Patel, Managing Director, Carlsberg India, said, “India is a priority growth market for Carlsberg Group. Our investments in Maharashtra, West Bengal, and Karnataka underline our long-term commitment to India’s future. These projects will expand our operational capacity, create meaningful employment, and generate excise revenues for the states.”

Carlsberg India is also embedding sustainability at the core of these investments, with a focus on renewable energy, water efficiency, and sustainable packaging solutions. These initiatives are aligned with India’s climate and development goals, as well as the Carlsberg Group’s global sustainability programme, Together Towards ZERO and Beyond.

Alcobrew Distilleries Files DRHP with Sebi for ₹600-Crore IPO

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Founder to offload 18 million shares in OFS
Fresh issue proceeds earmarked for expansion and repayment/prepayment of borrowings

With its registered office at New Delhi- Alcobrew Distilleries India Ltd, the maker of whisky brands such as White & Blue and Golfer’s Shot, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for a proposed initial public offering (IPO).
The IPO consists of a fresh issue of equity shares aggregating ₹258.26 crore and an offer for sale (OFS) of up to 18 million shares by promoter Romesh Pandita, the founder and chairman of the company. The equity shares carry a face value of ₹10 each. Other promoters include Veena Pandita and the Romesh Pandita Family Trust.
According to the DRHP, Alcobrew plans to utilise the net proceeds from the fresh issue for business expansion, Repayment/prepayment of borrowings, and general corporate purposes. As per regulatory guidelines, 50% of the issue will be reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.
Founded in 2002, Alcobrew Distilleries was converted into a public limited company in 2022. The Company manufactures, markets, and sells a wide range of alcoholic beverages, including whisky, vodka, and rum. Its brand portfolio spans premium and mass-market offerings such as Golden circle, Golfer’s Shot (premium whisky), White & Blue (blended whisky), White Hills (regular whisky), and One More (vodka).
The company operates manufacturing units in Solan (Himachal Pradesh) and Dera Bassi (Punjab) with integrated distillation and bottling facilities. It has also built a robust distribution network supported by contract manufacturing arrangements, giving it a strong pan-India presence.
In addition to domestic operations, Alcobrew has been expanding its global footprint. The company currently exports to countries across Africa, Asia, and the Middle East,. It continues to scout new overseas markets to strengthen its position among India’s emerging liquor exporters.
On the financial front, Alcobrew reported consolidated revenue of ₹1,615.01 crore in FY25, compared to ₹1,640.11 crore in FY24 and ₹1,216.87 crore in FY23. Its profit after tax (PAT) rose to ₹69.45 crore in FY25, up from ₹62.55 crore in FY24 and ₹52.30 crore in FY23.
India’s alcoholic beverages market has been witnessing strong growth, fuelled by rising disposable incomes, premiumisation, and evolving consumer tastes. Industry experts believe Alcobrew’s diverse brand portfolio, integrated operations, and growing international presence position it well to tap this demand.
Motilal Oswal Investment Advisors is the book-running lead manager to the issue, while KFin Technologies will act as the registrar.

Maharashtra Made Liquor (MML) Guidelines Announced to Boost Local Industry

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In a move aimed at reviving underutilised liquor manufacturing units and offering consumers more affordable choices, the Maharashtra Government has formally introduced a new category of alcoholic beverage—Maharashtra Made Liquor (MML). The decision, approved by the State Cabinet in July, has now been formalised through a Government Resolution (GR) amending the Bombay Foreign Liquor Rules, 1963.

The policy positions MML as a distinct sub-category under the Indian Made Foreign Liquor (IMFL) framework. To qualify, the liquor must be grain-based and produced using rectified spirit sourced exclusively within Maharashtra.

One of the biggest attractions for producers and consumers is the reduced excise duty, 270% for MML compared to 450% for IMFL. At an assumed manufacturing cost of ₹400 per litre, IMFL retails at roughly ₹2,200 (including ₹1,800 in excise), while MML is expected to cost around ₹1,480 (with ₹1,080 excise), making it about ₹700 cheaper per litre. The government has set a minimum retail price of ₹148 for a 180 ml bottle of MML, compared to ₹205 for IMFL and ₹80 for country liquor.

Under the new guidelines, MML manufacturers must have their registered head office in Maharashtra; maintain at least 25% state-resident shareholding; avoid producing or marketing MML outside the state; and register their brands within one year. Third-party production is not allowed, though leasing of plant capacity is permitted if the facility remains dedicated to MML production. If sold outside Maharashtra or if rules are violated, the MML status will be revoked, the guidelines state.

Economic Impact

According to reports, Maharashtra currently has 48 licensed IMFL manufacturing units, but only 10 dominate production; many operate at minimal capacity just to retain their licences. The government hopes MML will revive idle plants and generate up to ₹3,000 crore in additional annual revenue. The move is part of wider excise reforms targeting ₹14,000 crore yearly collections through measures including AI-powered monitoring of production and sales; new divisional excise offices; revised duty structures, IMFL at 3× to 4.5× manufacturing cost (capped at ₹260/litre), country liquor up to ₹205 per proof litre; and higher licence fees for FL-2 (retail) and FL-3 (bars) outlets.

In 2024-25, Maharashtra excise revenue stood at ₹25,467.96 crore. Of the six excise regions, Nashik region (Nashik, Nandurbar, Dhule and Jalgaon) earned ₹6,186.82 crore; followed by Chhatrapati Sambhajinagar region (Chhatrapati Sambhajinagar, Beed, Jalna, and Dharashiv) at ₹5,995.07 crore; Pune region (Pune, Ahilyanagar and Sholapur) at ₹5,809.79 crore; Thane region (Mumbai City, Mumbai suburbs, Thane, Palghar and Raigad) at ₹4,513.02 crore; Kolhapur Greater Region (Kolhapur, Satara, Sangli, Ratnagiri and Sindhudurga) at ₹1,265.21 crore; Nagpur region (Nagpur, Wardha, Bhandara, Gondia, Chandrapur and Gadchiroli) at ₹874.43 crore; Nanded region (Parbhani, Latur, Nanded and Hingoli) at ₹592.73 crore; and Amravati region (Amravati, Buldhana, Akola, Washim and Yavatmal) at ₹230.09 crore.

Unlike IMFL’s foreign-style blends, MML will feature simple, traditional flavours such as orange, cumin and herbs. Popular varieties are expected to include Santra, Chandni and Sugandhi. Packaging is expected to be basic, in bottles or sachets and to be labelled “For sale only in Maharashtra”. Distribution will focus on rural and semi-urban markets, though MML will also be available in urban centres. Production is said to be undertaken by state-run units, cooperative sugar factories, and private distilleries.

By creating a regulated, lower-cost option, the government hopes MML will help curb illicit liquor trade and reduce consumption of illicit brews.

Radico Khaitan launches New Luxury Vodka – The Spirit of Kashmyr

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Radico Khaitan has announced its entry into the luxury vodka segment with the launch of ‘The Spirit of Kashmyr’. Having established itself in the premium whisky segment, Radico Khaitan now broadens its focus with an entry into high-end vodka.

Drawing inspiration from the cultural richness and natural heritage of Kashmir, the new vodka positions itself in the top-end of the Indian vodka category. The Spirit of Kashmyr is a small-batch, grain-based vodka distilled five times and charcoal-filtered for clarity. According to Radico -what sets it apart is its visual and vibrant packaging, a floral motif rendered in papier-mâché style, influenced by the artisanal legacy of Kashmir.

Available in two variants — Natural (Classic) and Saffron — the vodka is currently being introduced in select markets including Goa, followed by other key states in the coming months. Priced at ₹2,500 for a 750 ml bottle in Goa, the brand will be competing in the luxury tier, where vodka consumption in India has seen growing interest among urban consumers.This launch is in line with a broader trend of Indian players tapping into the country’s own cultural narratives to build globally relevant premium brands. With The Spirit of Kashmyr, Rooted in Indian heritage, the launch reflects a growing focus on blending premium craft with cultural authenticity.