Diageo’s United Spirits acquires 10.08% stake in Nuvola Spirits
The company subscribed to 17,350 compulsorily convertible preference shares (CCPS) and 10 equity shares as part of the investment
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Published: Jul 29, 2026 1:19 PM | 1 min read
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- Diageo's Indian subsidiary, United Spirits, has invested Rs 2.69 crore to acquire a 10.08% stake in Nuvola Spirits Private Limited, enhancing its presence in the premium craft spirits market.
- The investment includes the subscription of 17,350 compulsorily convertible preference shares and 10 equity shares in Nuvola Spirits, which was founded in August 2023 and owns the Mikiamo and Seoulmate brands.
- Nuvola Spirits focuses on premium alcoholic beverages inspired by global trends, including Korean-style Soju and Italian liqueurs, catering to the rising demand for experimental spirits in India.
- United Spirits reported a revenue decline of 10.6% to Rs 6,113 crore in Q1 FY27, with a net profit drop of 31.5% year-on-year to Rs 391 crore, while Nuvola Spirits' FY26 revenue reached Rs 3.5 crore, all from the Indian market.
Diageo’s Indian arm United Spirits has strengthened its presence in the premium craft spirits segment by investing Rs 2.69 crore in Nuvola Spirits Private Limited (NSPL), acquiring a 10.08% stake in the startup on a fully diluted basis.
The company subscribed to 17,350 compulsorily convertible preference shares (CCPS) and 10 equity shares as part of the investment.
Founded in August 2023 by Raghav Sachdeva and Aakriti Sachdeva, Nuvola Spirits owns the Mikiamo and Seoulmate brands. The company focuses on globally inspired premium alcoholic beverages, with a portfolio spanning Korean-style Soju and Italian liqueurs such as Limoncello, Meloncello and Amara Rosso, catering to India's growing demand for premium and experimental spirits.
The investment was disclosed alongside United Spirits' first-quarter earnings. The maker of Godawan, McDowell's No. 1 and Royal Challenge reported revenue from operations of Rs 6,113 crore in Q1 FY27, down 10.6% sequentially from Rs 6,838 crore in the preceding quarter.
Consolidated net profit declined 31.5% year-on-year to Rs 391 crore, compared with Rs 571 crore in the corresponding quarter last year.
According to Nuvola Spirits' audited FY25 financial statements, the company reported revenue of Rs 0.38 crore and a negative net worth of Rs 0.15 crore. The startup said its unaudited FY26 revenue rose to Rs 3.5 crore, with all of its revenue currently generated from the Indian market.
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