JSA Advocates and Solicitors (JSA) advised United Spirits Limited on its investment in Nuvola Spirits Private Limited, the craft beverage company behind premium alcoholic brands Mikiamo and Seoulmate, which bring diverse international liquor flavours to the Indian market.
The investment was made by way of subscription to 17,350 compulsorily convertible preference shares and 10 equity shares of Nuvola Spirits Private Limited for an aggregate consideration of INR 2.69 crore. The investment forms part of United Spirits Limited’s strategy to expand its portfolio by backing high-potential, home-grown beverage brands and helping them scale through capital and industry expertise.
The JSA team was led by Probir Roy Chowdhury, Partner, with Yajas Setlur, Partner, and comprised Bhargavi Kuchewar, Senior Associate; Moushami Nayak, Associate and Tejaswini Sundar, Associate.
Probir specializes in Corporate Commercial, Venture/Private Equity and Information Technology/FinTech. He has been involved in corporate transactions focused on the high technology industry including cross border Mergers & Acquisitions.