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Tilaknagar Industries completed the first tranche of its investment in Black Tiger Distilleries for ₹6.00 Crore, acquiring a 12.5% stake on a fully diluted basis.
Tilaknagar Industries issued a corrigendum correcting the reported net worth of Black Tiger Distilleries Private Limited, the entity in which it is investing.
Tilaknagar Industries will acquire a 30% stake in Black Tiger Distilleries for ₹22 Crore. The investment in the tequila and agave spirits producer will be completed in two tranches.