USL to acquire majority stake in Nao Spirits
Diageo India
(
United Spirits Limited
), on Thursday said it is acquiring a majority controlling stake in
Nao Spirits
at an enterprise value of Rs130 crore. Three years ago, Diageo bought a 22.5% stake in Nao, which makes
Hapusa
and Greater Than gin and later added another 7.5% stake a year later
'Ventures, Diageo India's investment arm is dedicated to strengthening our portfolio by investing in disruptive alco-bev startups. This allows us to offer consumers a wider array of products that resonate with evolving preferences. The acquisition of Nao Spirits, a promising portfolio company within our Ventures arm, represents a pivotal step in exploring future growth opportunities in
Indian craft spirits
," said Praveen Someshwar, MD and CEO, Diageo India (USL), which has global gin brands such as Tanqueray in its portfolio.
Launched in 2017 by Anand Virmani, the company controls 4.6% market share in the Indian gin category. Last year, the company also launched an aged, spiced rum, Pipa.
Over the past few years, several small handmade batches of local brands, especially from Goa, stirred up the segment. However, mainstream companies too entered the space either by acquiring startups or launching their own gin brand. Apart from USL acquiring Nao,
Tilaknagar Industries Limited
bought stake in Spaceman Spirits Lab, the owner of Samsara while Allied Blenders and Distillers acquired all brands and other Intellectual Property rights from Fullarton Distilleries Private, the maker of Pumori gin and Woodburns whiskey. Amrut's Nilgiris gin and Malhar from John Distilleries are more recent toe dips into craft gin by major local distillers.
"The investment will help us scale further with the support of Diageo India's seasoned leadership, distribution network and production capabilities combined with our unconventional mindset and ability to stay deeply relatable to the evolving consumer," said Anand Virmani, Co-Founder & CEO, Nao Spirits & Beverages
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
15 minutes ago
- Business Standard
SHARP Launches New A3 Colour Multifunction Printers in India, Makes Everyday Office Tasks Simpler and Smarter
PNN New Delhi [India], June 20: SHARP Business Systems (India) Pvt. Ltd., a wholly owned Indian subsidiary of SHARP Corporation, Japan, has launched its latest A3 colour multifunction printer (MFP) series in India during the SHARP National Dealer Meet 2025 and Silver Jubilee Celebrations. Designed to redefine office efficiency and meet the evolving demands of Indian businesses, the newly introduced models -- BP-22C20/BP-22C20T and BP-22C25/BP-22C25T -- are built to enhance productivity with copy and print speeds of 20 PPM and 25 PPM respectively. These models combine performance, compactness, and cost-effective colour output in a single robust device. The BP-22C series MFPs bring an optimal mix of functionality and design, offering one of the most compact footprints in their class. These models are designed to seamlessly integrate into dynamic work environments including SMEs, corporate offices, co-working spaces, healthcare, and educational institutions. With a 7-inch intuitive touch panel, users can easily access key functions and simplify document handling through smart features such as Rotated Output for Copy and duplex printing - streamlining tasks across both portrait and landscape formats with ease. "Indian offices today are looking for smart, reliable machines that don't take up too much space but still get the job done well. That's exactly what the BP-22C series is about. It's practical, easy to use, and brings colour printing within reach--without making it complicated or expensive, "said Mr. Osamu Narita, Managing Director - SHARP Business Systems, India. "We designed this series with real work situations in mind--busy teams, limited space, and the need for quick results. Whether it's scanning, printing or sharing documents on the go, the BP-22C20 and BP-22C25 offer the flexibility and performance that fit right into Indian workplaces, "said Mr. Sukhdev Singh, President - Smart Business Solutions, SHARP Business Systems, India. Innovative Design and Exceptional Connectivity Engineered to support diverse office workflows, the BP-22C series offers consistent print speeds of up to 20/25 pages per minute in both colour and monochrome. With 2 GB RAM and 16 GB eMMC storage, the devices support high-efficiency operations, including PCL printing, quick warm-up, and an expanded paper capacity of up to 1,850 sheets for uninterrupted tasks. The series also stands out for its enhanced mobile connectivity--users can print and scan directly from smartphones via the Sharpdesk Mobile app. Compatibility with AirPrint allows seamless integration with iOS devices, while USB Direct Print functionality further adds convenience for users needing quick access. Optional wireless connectivity ensures flexibility, especially in office environments lacking LAN infrastructure. Additionally, advanced features like the 100-sheet Reversing Single Pass Feeder with 31 OPM scan speed and multiple destination options (email, FTP, USB) make the BP-22C series a practical choice for busy offices managing high-volume document workflows. "Businesses today are looking for solutions that balance versatility and efficiency," said Jun Kasawaki, Head of Asia Business Solutions Centre, Thailand, SHARP. "The BP-22C series is designed to cater to the evolving needs of the modern workplace, where space is limited but performance expectations are high. With its combination of vibrant colour printing, exceptional monochrome functionality, and energy-efficient operation, the BP-22C series enables businesses to stay ahead of the curve, delivering high-quality colour documents on demand while minimizing operational costs." Security and Sustainability at the Forefront SHARP has prioritized security in the BP-22C series, offering password-based user authentication and secure job retention. IT administrators can also benefit from secure data erasure protocols when decommissioning the device--ensuring complete data privacy and regulatory compliance. On the sustainability front, these ENERGY STAR® certified MFPs consume as little as 0.5W in network standby mode, reducing power usage and supporting environmentally responsible operations--a key consideration for Indian enterprises looking to align with green practices. A Powerful Solution for India's Diverse Business Ecosystem Whether in small businesses, educational institutions, hospitals, or government offices, the SHARP BP-22C series provides a cost-efficient solution with high-quality colour printing, fast performance, and robust mobile support. These MFPs offer Indian enterprises the opportunity to enhance office productivity while maintaining low operational costs. The BP-22C20/BP-22C20T and BP-22C25/BP-22C25T will be available across India through SHARP's network of offices and authorized channel partners, with pricing starting from INR 2,97,500. About SHARP Business Systems (India) SHARP Business Systems (India) Pvt Ltd is an ISO 900l: 2015 Certified and wholly owned Indian subsidiary of SHARP Corporation, Japan which is a 112-year-old company with many technological innovations. Supported by a well-trained sales and service force, our business provides a host of market leading B2B and B2C products that includes a comprehensive range of the latest office Solutions, Visual Solutions and Home Solutions across India for over 25 years.
Economic Times
15 minutes ago
- Economic Times
HUL shares among 8 stocks will trade ex-dividend on Monday. Do you own?
Those buying the stock on the ex-date are not eligible for dividends and after the implementation of the T+1 framework, the record date and ex-date are the same in most cases unless there is a market holiday after the ex-date. Hindustan Unilever and RailTel Corporation, along with eight other companies, have set November 6 as the record date for their declared dividends. Today marks the last day to purchase shares to qualify for these dividends. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Hindustan Unilever HUL ), Samvardhana Motherson International , among 6 other companies, will likely remain in focus today as they begin trading on an ex-dividend basis from Monday, June 23, meaning today is the last day to purchase these shares to be eligible for the record date is the cut-off set by the company to identify shareholders who will receive the dividend. If your name appears as a shareholder on this date, you are entitled to the dividend, regardless of when you bought the the other hand, the ex-dividend date (or ex-date) is the first day the stock trades without the dividend benefit. Anyone buying the stock on or after the ex-date will not receive the upcoming dividend. Typically, the ex-date falls one business day before the record Indian stock markets follow the T+1 settlement cycle, investors must complete their share purchases by June 19 for the transaction to be settled and reflected in their demat accounts by the record board of HUL had announced a final dividend of Rs 24 per share, fixing Monday, June 23 as the record date for determining the shareholder eligibility.'This is further to our letter dated 24th April, 2025, wherein the Company had informed that the Register of Members of the Company will remain closed from Tuesday, 24th June, 2025 to Monday, 30th June, 2025 (both days inclusive) for the purpose of payment of Final Dividend and AGM of the Company. This is to inform that the record date for the above purpose is Monday, 23rd June, 202,' the company the past 12 months, Hindustan Unilever has announced a total equity dividend of Rs 29.00 per share, and based on a share price of Rs 2,294.20, this translates to a dividend yield of 1.26%.HUL shares closed flat at Rs 2,294.20 on the BSE on is a list of other companies that will start trading ex-dividend from Friday:Dalmia Bharat– Final dividend of Rs 5 per share (250%)Dynamic Cables– Final dividend of Rs 0.5 per share (5%)Kalpataru Projects International– Final dividend of Rs 9 per share (450%)Kansai Nerolac Paints– Special dividend of Rs 1.25 per share (125%) and a final dividend of Rs 2.5 per share (250%)Motherson Sumi Wiring India– Final dividend of Rs 0.35 per share (35%) Pilani Investment and Industries Corporation – Final dividend of Rs 15 per share (150%) Samvardhana Motherson International– Final dividend of Rs 0.35 per share (35%)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Hans India
21 minutes ago
- Hans India
Sensex, Nifty Rebound After Three-Day Fall Amid Positive Global Cues, FII Buying
Indian stock markets opened higher on Friday, snapping a three-day losing streak, as the Sensex rose 289 points to 81,651.30 and the Nifty gained 88 points to 24,881.50. The rebound was driven by strong cues from Asian markets and renewed foreign institutional investor (FII) interest, with FIIs purchasing ₹934.62 crore worth of equities. Declining global crude oil prices and a stronger rupee further supported market sentiment. Analysts expect the Nifty to remain range-bound between 24,500 and 25,000 in the near term, unless impacted by global geopolitical or commodity market developments.
