Tilaknagar Industries to Invest ₹22 Crore for 30% Stake in Tequila Firm BTD

Tilaknagar Industries Limited (TIL) announced that its Finance Committee has approved the execution of a share subscription agreement and an amended and restated shareholders' agreement with Black Tiger Distilleries Private Limited (BTD) and Mr. Mohnish Mehul Mehta.

Under the share subscription agreement, TIL will subscribe to compulsory convertible preference shares and equity shares of BTD, representing a 30.0% stake on a fully diluted basis, for an aggregate consideration of ₹22 crore (INR 22,00,00,000) to be paid in two tranches. The first tranche, amounting to approximately ₹6 crore (INR 5,99,99,957.36), will secure a 12.5% stake, while the second tranche, amounting to approximately ₹16 crore (INR 15,99,99,854.55), will complete the 30.0% shareholding.

BTD, incorporated on January 25, 2025, is engaged in the business of tequila and agave spirits. This strategic investment aims to strengthen TIL's presence in the rapidly growing tequila and agave spirits segment in India. The company's Finance Committee meeting commenced at 10:45 AM and concluded at 11:25 AM on September 02, 2026.

The investment is structured in two tranches, with the first tranche expected to be completed by October 31, 2026, and the second tranche by October 31, 2027. TIL will also have the right to nominate directors and an observer on BTD's board, along with certain reserved matters requiring TIL's affirmative vote. The transaction does not fall under related party transactions, and no governmental or regulatory approvals are required.