Tilaknagar Industries Ltd. (BSE:507205) agreed to acquire unknown minority stake in Spaceman Spirits Lab Private Limited on March 29, 2023. Consideration will be paid in the form of cash. Spaceman Spirits Lab Private Limited will acquire 10% stake With a combination of Equity shares and Compulsory Convertible Preference shares for total consideration of INR 97.5 million.

Spaceman Spirits Lab Private Limited reported a turnover of INR 27 million in FY 21-22. Transaction is expected to complete on June 30, 2023.