Liquor maker Tilaknagar Ind rallies 9% on fundraising plan, Imperial Blue buyout buzz

Shares of Tilaknagar Industries (TI), the makers of Indian Made Foreign Liquor (IMFL), soared over 9% on Tuesday to hit a fresh 52-week high, driven by sustained rally for the past seven consecutive sessions. The rally came amid reports of a potential acquisition of the Imperial Blue whisky brand, coupled with the company’s plans to raise funds. The liquor stock has gained over 35% in the last seven sessions, despite persistent volatility in the broader market.

On Tuesday, Tilaknagar Industries shares jumped as much as 9.36% to touch a fresh 52-week high of ₹458 on the BSE, while its market capitalisation climbed over ₹8,800 crore. The share price of the maker of Mansion House Brandy has more than doubled in over 3 months from its 52-week low of ₹205 touched on April 7, 2025.

In an exchange filing on July 19, the Mumbai-based company said that its board will meet on July 23 to consider a proposal for raising capital by issuance of equity shares or other securities in one or more tranches. The fundraising plan is subject to approval of the shareholders, regulatory and statutory authorities.

Investor sentiment was further boosted following reports that Tilaknagar Industries is in advanced discussions to acquire Imperial Blue, the popular whisky brand owned by French liquor giant Pernod Ricard. The deal, reportedly valued at around ₹4,000 crore, is being viewed as a strategic step to solidify the company’s presence in India’s rapidly expanding alcoholic beverages market. The proposed acquisition is expected to be financed through a mix of debt and equity.

Besides, investor optimism was buoyed by Tilaknagar Industries’ clarification regarding the ongoing inquiry into alleged malpractices in the liquor trade in Andhra Pradesh. In a clarification to exchanges on July 21, the company issued a statement in response to recent media reports suggesting that the company has been named in a chargesheet filed by the Andhra Pradesh police concerning alleged malpractices in the state’s liquor trade.

In a regulatory filing, the company stated that it has not received any official communication or notice from any regulatory or enforcement authority regarding the matter.

“We would like to place on record that the company has not received any communication or information to this effect from any regulatory authority or enforcement agency, till date,” it said.

Reaffirming its commitment to ethical practices, Tilaknagar Industries said that the company is devoted to creating and marketing globally-acclaimed brands that are market leaders in their respective segments and geographies. “All our brands stand on the strength of their intrinsic merit and unwavering consumer loyalty.”

The company also urged stakeholders to rely only on official communications issued through its verified channels or the stock exchanges.

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