Indie Brews and Spirits Private Limited announced that it will issue 4,016 Compulsory Convertible Preference Shares and 10 equity shares for a gross proceeds of INR 50,000,021 on July 23, 2024. The transaction will include participation from new investor, United Spirits Limited. The transaction will expected on or before October 23, 2024.

The investor will acquire 25% stake in the transaction.