Restaurant India News: Tilaknagar Industries Doubles Down on Craft Spirits with Rs 10.66 Cr Bet on Spaceman

Tilaknagar Industries Limited (TI), one of India’s leading IMFL (Indian-Made Foreign Liquor) manufacturers, has made an additional investment of Rs 10.66 crore in Spaceman Spirits Lab Private Limited (SSL), a company known for its premium craft alcohol offerings.

This latest capital infusion includes Rs 9.15 crore as part of an earlier Rs 13.15 crore agreement inked in September 2024, while the remaining Rs 1.51 crore has been allocated to purchase shares from SSL’s early investors.

Following this investment, TI’s ownership in SSL will grow from 12.98 percent to 21.36 percent on a fully diluted basis. As per the signed agreements, TI also holds the option to increase its stake further or inject more capital, depending on SSL meeting specific performance benchmarks.

“Our continued investment in Spaceman Spirits Lab reflects our conviction in the enduring appeal of premium craft spirits in a rapidly evolving market. Their thoughtfully curated portfolio featuring Samsara Gin, Sitara Rum and Amara Vodka demonstrates innovation, quality and craftsmanship. We are excited to deepen our partnership as Spaceman enters a new phase of growth,” said Ameya Deshpande, President - Strategy and Corporate Development, Tilaknagar Industries.

As part of this deal, TI is subscribing to 1,772 equity shares and 11,752 Compulsorily Convertible Preference Shares for Rs 9.15 crore. Additionally, the company is acquiring 2,236 equity shares from existing SSL shareholders for Rs 1.51 crore.

Aditya Aggarwal, Founder and Managing Director, Spaceman Spirits Lab, commented, “We are thrilled to deepen our partnership with Tilaknagar Industries as we embark on a bold new chapter. With Tilaknagar’s extensive distribution network and industry leadership, we are excited to take our iconic brands to every corner of India.”

SSL is also planning to diversify its offerings with upcoming products in whisky, heritage liqueurs, and tequila. The company has projected a nearly 70 percent rise in revenue and approximately 60 percent growth in volume for FY26. A key operational development between both companies is the Usership Agreement, through which Tilaknagar Industries will distribute SSL’s Samsara Gin, Sitara Rum, and Amara Vodka across specific domestic and international markets. This distribution arrangement officially commenced in May 2025.