United spirits has announced its board's approval for a strategic expansion of its investment in V9 Beverages Private Limited, the company behind the zero-alcohol beverage brand "Sober". The board meeting held on January 20, 2026, approved an additional investment of ₹3.20 crore, which will increase United Spirits' shareholding from 15% to 25% on a fully diluted basis.

Investment Structure and Timeline

The investment involves subscribing to 1,762 Compulsory Convertible Preference Shares (CCPS) of V9 Beverages for an aggregate consideration of ₹3.20 crore. The transaction is structured as a cash consideration and is expected to be completed on or before February 20, 2026, subject to fulfillment of conditions precedent set out in the definitive agreement.

Previous Investment History

This marks United Spirits' second investment in V9 Beverages. The company initially invested ₹2.29 crore in September 2024, pursuant to a Share Subscription & Shareholders' Agreement executed on July 23, 2024. The initial investment involved subscribing to 1,972 CCPS and 10 equity shares, establishing a 15% shareholding in the zero-alcohol beverage company.

About V9 Beverages (Sober)

V9 Beverages Private Limited operates under the brand name "Sober" and specializes in zero-proof alcohol beverages. The company was incorporated on November 4, 2020, and commenced commercial operations in October 2021. Founded by first-generation entrepreneurs Vansh Pahuja and Aditya Aggarwal, Sober has developed a portfolio of non-alcoholic alternatives including:

• Sober Gin Alternative
• Sober Pink Gin Alternative
• Sober Rum Alternative
• Sober Whiskey Alternative

Financial Performance and Growth Trajectory

V9 Beverages has demonstrated significant growth in recent years, with its financial performance showing substantial improvement. For the financial year ended March 31, 2025, the company reported a turnover of ₹1.49 crore and net worth of ₹1.18 crore.

The company's revenue growth from ₹0.56 crore in FY 23-24 to ₹1.49 crore in FY 24-25 represents a significant increase, with all revenue currently generated from the Indian market.

Strategic Rationale and Market Position

The additional investment aligns with the growing demand in the non-alcoholic beverage market. Sober aims to provide consumers with wider choices for social and personal occasions through its zero-proof alcohol alternatives. The proposed investment will enable V9 Beverages to fund its operating cash requirements for future growth and expansion initiatives.

As a related party transaction due to United Spirits' existing investment, the deal has been structured on an arm's length basis. The transaction requires no governmental or regulatory approvals and represents United Spirits' continued commitment to diversifying its portfolio in the evolving beverage market.

United Spirits Limited has announced the appointment of Ms. Julie Bramham as Additional Director (Non-Executive Non-Independent Director) effective January 21, 2026. The Board of Directors approved this appointment on January 20, 2026, following a recommendation from the Nomination and Remuneration Committee.

Board Meeting Details

The board meeting that approved Ms. Bramham's appointment commenced at 16:00 hrs IST and concluded at 18:20 hrs IST on January 20, 2026. The company has informed both BSE Limited and The National Stock Exchange of India Limited about this corporate governance development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Particulars

Professional Background

Ms. Julie Bramham brings extensive experience as a global luxury and consumer leader with 25 years of expertise in shaping iconic brands and driving commercial growth across international markets. She currently serves as Managing Director of the Diageo Luxury Group, where she led the creation of a $1 billion global luxury business spanning private client operations, immersive Scotch brand homes, and luxury spirits innovation pipeline.

In her current role, Ms. Bramham oversees a team of more than 500 people and holds responsibility for Diageo's global marketing transformation agenda. Her previous experience includes serving as Global Brand Director for Johnnie Walker, Diageo's flagship £2.4 billion brand, which she successfully repositioned as a modern luxury icon, delivering sustained double-digit growth.

India Market Experience

As Chief Marketing Officer of Diageo India, Ms. Bramham led portfolio strategy development for diverse market segments, delivered approximately 30% growth of Premium and International brands, and pioneered brand turnarounds including McDowell's No.1 Whisky, Signature, and Antiquity. She also developed a strong innovation pipeline including luxury Indian spirits such as Godawan.

Key Achievements and Expertise

Regulatory Compliance and Next Steps

Ms. Bramham has affirmed that she is not debarred from holding the office of director by virtue of any SEBI order or other regulatory authority, in compliance with BSE and NSE circulars dated June 20, 2018. The company will seek shareholder approval through a postal ballot, with the notice to be filed with stock exchanges in due course.

The appointment disclosure indicates no existing relationships between Ms. Bramham and other directors of United Spirits Limited. Her board-ready expertise spans transformation, brand strategy, consumer insight, digital innovation, culture leadership, and commercial governance, complemented by non-executive director experience with Royal Challengers Bengaluru IPL franchise and the Netherlands British Chamber of Commerce.