Overview

• The transaction is structured as a slump-sale at an enterprise value of ₹4,150 crore and transfers two owned manufacturing facilities and multiple co-bottling agreements with ₹282 crore deferred for payment four years after closing.
• The board has approved raising up to ₹6,500 crore through a mix of equity, equity-linked instruments and debt and has increased its overall borrowing limit to ₹5,000 crore to back the deal.
• The acquisition remains subject to Competition Commission of India approval and is expected to close in the coming months once customary regulatory clearances are secured.
• Imperial Blue is India’s third-largest whisky brand with annual sales exceeding 22 million nine-litre cases, and its purchase advances Tilaknagar’s Vision 2030 strategy to diversify beyond its brandy portfolio.
• Pernod Ricard India’s divestment of the value-segment brand aligns with its shift toward a premium-spirits portfolio aimed at boosting margins and streamlining its product mix.