The company’s board has approved a further investment of Rs 3.2 crore in V9 Beverages (Sober), through the subscription of 1,762 compulsorily convertible preference shares
United Spirits, a major beverage alcohol company, said that it will raise its stake in Zero-alcohol beverage brand Sober from 15 per cent to 25 per cent the equity share capital on a fully diluted basis. The company’s board has approved a further investment of Rs 3.2 crore in V9 Beverages (Sober), through the subscription of 1,762 compulsorily convertible preference shares.
As the company has an existing investment in Sober, subscription of CCPS in Sober is a related party transaction and the transaction is at arm’s length basis. As a zero-alcohol beverage company, Sober is engaged in the business of developing, producing, marketing and selling zero-proof alcohol beverages under the brand name Sober.
The company, in an exchange filing, noted that the proposed additional investment will enable Sober to fund its operating cash losses for future growth and expansion. United Spirits intends to complete the acquisition within a month.
United Spirits had executed a share subscription and shareholders’ agreement on 23 July 2024, pursuant to which it subscribed to 1,972 CCPS and 10 equity shares of Sober for Rs 2.29 crore on 26 September 2024.
Recently, United Spirits registered a healthy uptick in its net profit for the third quarter of the current financial year. The company profit after tax attributable to the owners of the holding company rose to Rs 418 crore in Q3FY26 on a consolidated basis, marking an uptick of 24.7 per cent year-on-year (YoY).
The financial results of the company revealed that the revenue from operations also grew to Rs 7,942 crore during the recently concluded quarter from Rs 7,732 crore during the corresponding period of the previous financial year.
