Tilaknagar Industries Ltd agreed on September 2, 2026 to invest ₹22 crore, about $2.3 million, for a 30 percent stake in Black Tiger Distilleries, the Indian company behind Bodega Suprema No. 5 tequila.

The Spirits Business first reported the deal, and it was confirmed in a stock exchange filing covered by Business Today, Just Drinks and several Indian trade outlets. Tilaknagar, a Mumbai-listed spirits company built on Mansion House Brandy, framed the move as its entry into agave spirits rather than a full buyout.

What Bodega Suprema No. 5 is

Black Tiger Distilleries was founded by Mohnish Mehta with backing from Mexico's Productos Finos de Agave and India's Mansha Group of Companies, according to the company. Productos Finos de Agave operates under NOM 1416 in Jesús María, in the Los Altos region of Jalisco, a facility also known for producing Tequila Avión. Bodega Suprema No. 5 launched in Mumbai in August 2026 as Black Tiger's first release, a three-year project according to founder Mohnish Mehta, who said he saw a gap in India between low-end mixtos and imported tequila sold at luxury prices. The range comprises Blanco, Reposado and Añejo expressions at 38 percent ABV, all made from 100 percent Blue Weber Agave. The aged expressions rest in ex-Tennessee whiskey American oak barrels, the Reposado for two months and the Añejo for twelve, according to Trend Hunter's coverage of the launch. Retail prices run from roughly ₹4,200 for the Blanco to ₹5,500 for the Añejo per 750ml bottle.

How the ₹22 crore stake is structured

Under the share subscription and shareholders' agreement approved by Tilaknagar's Finance Committee, the company will subscribe to compulsory convertible preference shares and equity shares in two tranches. The first tranche, just under ₹6 crore, buys 12.5 percent of Black Tiger's share capital and is expected to close by October 31, 2026. A second tranche of roughly ₹16 crore brings Tilaknagar's stake to the full 30 percent on a fully diluted basis by October 31, 2027. Tilaknagar said no government or regulatory approval is required for the investment. Beyond capital, the company has committed to providing Black Tiger with support across distribution, sales, marketing, supply chain, finance and regulatory functions, according to its statement.

Why India's tequila market is drawing capital

Tilaknagar cited IWSR data showing India as the fastest-growing major tequila market globally, with volumes climbing at roughly 60 percent compounded annually between 2020 and 2025 and about 34 percent in the past year alone; the firm forecasts 13 percent compounded annual growth through 2030. The Black Tiger deal is Tilaknagar's third strategic investment in an emerging beverage business, following earlier stakes in ready-to-pour cocktail maker Bartisans and in Spaceman Spirits Lab, and its first in tequila specifically. Those bets sit alongside a much larger balance sheet move: Tilaknagar completed its roughly ₹3,442 crore acquisition of Pernod Ricard's Imperial Blue whisky business in December 2025, and its flagship Mansion House Brandy was ranked the world's second-largest brandy brand by volume in Drinks International's Millionaires' Club 2026 report, with 9.7 million nine-litre cases sold in 2025. Shares of Tilaknagar dipped to a low of Rs 531 on the day the tequila investment was announced before recovering to close up nearly 3 percent from that low, according to Business Today.

What each side is saying

Sanaya Dahanukar, General Manager for Growth and Innovation at Tilaknagar Industries, described the investment as an opportunity to enter a category the company sees as an emerging trend with significant long-term potential, and said tequila fits into building Tilaknagar into a broader luxury spirits portfolio alongside whisky, brandy, gin, rum and vodka. Black Tiger founder Mohnish Mehta said the partnership would help make authentic 100 percent Blue Weber Agave tequila more accessible to Indian consumers at what he called a compelling premium price point, and called Bodega Suprema No. 5 the first step in that proposition.

What this means

Bodega Suprema No. 5 has not been scored in this publication's database, and nothing in the disclosed filings addresses composition beyond the 100 percent agave claim and cask details already public. What is verifiable is the deal's shape: a minority, staged stake tied to distribution muscle, not a takeover, in a market where Tilaknagar itself is betting the volume growth is real.