Tilaknagar Industries to raise ₹2,296 crore via preferential issue to fund Imperial Blue acquisition

Home-grown alcoholic beverage maker, Tilaknagar Industries Ltd, on Tuesday (July 29), announced that its Board of Directors has approved a preferential issue of securities — comprising equity shares and warrants — amounting to approximately ₹2,296 crore.

The issue is priced at ₹382 per security. The preferential issue will see participation from 44 investors, including promoters, existing shareholders, and new marquee investors.

The proceeds will be used primarily to fund the acquisition of the Imperial Blue business division and for general corporate purposes. The company stated that this equity issue, coupled with the planned debt raise, would provide an optimal financing structure for the acquisition.

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Demonstrating strong promoter backing, Chairman and Managing Director Amit Dahanukar will subscribe to warrants worth approximately ₹306 crore as part of the preferential issue.

Last week, Tilaknagar Industries said it will acquire the Imperial Blue business from Pernod Ricard India, a subsidiary of the French spirits maker. With the acquisition, Tilaknagar Industries will become a leading player in brandy and whiskey, the two largest IMFL categories.

Tilaknagar Industries, an Indian-Made Foreign Liquor (IMFL) manufacturer, has entered into a definitive agreement to acquire Imperial Blue business division (IB) from Pernod Ricard India via a slump sale at an enterprise value of 412.6 million euros (around ₹4,150 crore).

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The consideration includes a deferred payment of 28 million euros (₹282 crore as on date), to be paid four years after the date of closure of the transaction, said a joint statement. Imperial Blue is the third-largest whisky brand in India by volume. It had reported a revenue of ₹3,067 crore for the year ended March 2025.

Shares of Tilaknagar Industries Ltd ended at ₹510.45, up by ₹1.35, or 0.27%, on the BSE.