Tilaknagar Industries Ltd in the Spotlight as Liquor Acquisition Race Heats Up

In a significant development in the Indian alcoholic beverage sector, Tilaknagar Industries Ltd, a prominent player in the manufacturing and sale of Indian Made Foreign Liquor (IMFL) and extra-neutral alcohol, is actively seeking to raise private debt to finance a potential acquisition. The company is competing with Inbrew Beverages to acquire Pernod Ricard’s Imperial Blue, a leading brand in India’s liquor market.

According to sources familiar with the matter, both Tilaknagar Industries and Inbrew Beverages are aiming to raise approximately $500 million each from private credit funds to support their bids for Imperial Blue. This move underscores the strategic importance of Imperial Blue, which is India’s third-largest whisky brand, and highlights the competitive nature of the market.

Tilaknagar Industries, known for its diverse portfolio of brands including Mansion House Brandy, Courrier Napoleon Brandy-Green, and Blue Lagoon Gin, operates through one owned facility and approximately three operating liquor subsidiaries, with 15 leased or tie-up units spread across India. The company also exports its products to regions such as East and South-East Asia, Africa, the Middle East, and Europe.

Financially, Tilaknagar Industries has shown resilience, with a market capitalization of 66,350,000,000 INR as of July 10, 2025. The company’s stock closed at 338.3 INR on the same day, reflecting a 52-week range between 457 INR and 199.53 INR. The price-to-earnings ratio stands at 29.01, indicating investor sentiment and market expectations.

As the race to acquire Imperial Blue progresses, stakeholders in the beverage industry will be closely watching the developments, given the potential impact on market dynamics and competitive positioning. Tilaknagar Industries’ strategic moves in this acquisition could significantly enhance its market presence and brand portfolio, reinforcing its position in the consumer staples sector.