United Spirits Limited — Updates, 19-06-2025: Press Release

United Spirits Limited has announced a board meeting on the acquisition of NAO Spirits & Beverages. USL will purchase shares worth approximately INR 53.8 Cr and subscribe fresh equity and CCPS for around INR 56 Cr, increasing its stake from 30% to over 97%, making NAO a subsidiary. NAO, a leading Indian craft gin maker with award-winning brands 'Greater Than' and 'Hapusa', reported a turnover of INR 77.73 Cr in FY24. USL plans to further invest up to INR 20 Cr to support NAO’s growth, strengthening its presence in the premium craft spirits segment.