Shares of Tilaknagar Industries surged over 2% to Rs 483.00 in early trade on Wednesday after the company signed a definitive agreement to acquire the Imperial Blue business from Pernod Ricard at an enterprise value of Rs 4,150 crore.
The previous close stood at Rs 473.25, and the stock touched an intraday high of Rs 496.50. At 9:30 AM, the company’s market capitalization stood at Rs 93,910 crore, with a price-to-earnings (P/E) ratio of 40.78. The year range for the stock is between Rs 199.53 and Rs 496.50, indicating strong momentum in recent months.
The acquisition marks a significant milestone for Tilaknagar Industries, strengthening its footprint in the Indian spirits market. Imperial Blue, a major brand in the value segment, was part of Pernod Ricard’s India business. The divestiture is expected to be immediately accretive to Pernod Ricard’s operating margins and net sales growth.
Pernod Ricard stated that this move is part of its premiumization strategy in India, focusing on brands like Royal Stag, Blenders Pride, Chivas, Jameson, and Absolut. The company plans to streamline operations and concentrate on high-margin products.
This acquisition is pending regulatory approval from the Competition Commission of India and is expected to close in the coming months.
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