Mansion House maker bets on India’s tequila boom

The maker of Mansion House is expanding beyond its traditional spirits portfolio, making its first foray into tequila as India’s premium alcohol market continues to broaden.

Tilaknagar Industries Ltd (TI) is entering the tequila category through a strategic investment of ₹22 crore in Black Tiger Distilleries, the Indian spirits company behind Bodega Suprema No. 5. TI will acquire a 30% stake in the company on a fully diluted basis.

The investment will be made in two tranches, with ₹6 crore to be invested initially and the remaining ₹16 crore within 12 months of the first tranche.


Tilaknagar Industries shares were trading at ₹547.75 on the BSE around 12.10 pm on September 2, nearly flat at 0.28% from the previous close.

The move marks TI’s third strategic investment in an emerging beverage company and its first entry into the tequila and agave spirits category.

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“What excites us about Bodega Suprema No. 5 is the opportunity to enter a category we see as an emerging trend with significant long-term potential. As we build House of TI into a more comprehensive luxury portfolio, having a presence in tequila is an important part of that evolution, alongside categories such as whisky, brandy, gin, rum and vodka. It allows us to bring our experience in building premium spirits into a category with strong consumer interest, while creating a more diverse portfolio that reflects how drinking preferences in India are evolving,” Sanaya Dahanukar, General Manager – Growth & Innovation, Tilaknagar, said.

Tequila gets premium push

The company is tapping a category that has been growing rapidly in India, driven by premiumisation, cocktail culture and new drinking occasions.

The latest bet comes after a series of moves by Tilaknagar Industries to widen its portfolio beyond brandy. In 2025, the company acquired the Imperial Blue whisky brand from Pernod Ricard, marking its entry into the mass-market whisky segment. It had earlier invested ₹8.03 crore in October 2024 to acquire a 36.17% stake in Round the Cocktails, the maker of ready-to-pour cocktail mixer brand Bartisans. Tilaknagar has since raised its Bartisans holding to 41.45%, following a further ₹2 crore investment in June 2026.

According to IWSR data cited by the company, India is the fastest-growing major tequila market globally. Tequila volumes in India grew at around 60% annually between 2020 and 2025 and by about 34% last year. The category is expected to grow at a 13% CAGR through 2030.

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Tilaknagar said the investment will help position Bodega Suprema No. 5 between inexpensive mixto tequilas and high-priced luxury 100% agave offerings.

“Tequila represents an exciting opportunity for us to participate in a category that is still at an early stage of development in India, but has strong potential to grow. With Bodega Suprema No. 5 positioned at ₹4,200–₹5,500, we see an opportunity to bring authentic 100% agave tequila to a wider premium consumer base while building the category with the right focus on provenance and quality. Our role is to bring our experience in building beverage brands and our understanding of the Indian market, while enabling Black Tiger Distilleries to build a distinctive tequila proposition for India,” Ameya Deshpande, Chief Strategy Officer, Tilaknagar, said.

Bodega Suprema No. 5 comprises 100% Blue Weber Agave tequilas made and bottled in Jalisco, Mexico. The portfolio has three expressions — Blanco, Reposado and Añejo — developed over three years specifically for the Indian market.

The products are priced between ₹4,200 and ₹5,500 for a 750ml bottle. The company said TI will support Black Tiger Distilleries with distribution, sales, marketing, supply chain, finance and regulatory capabilities.

“As we built Black Tiger Distilleries, finding the right partners with deep category expertise and a strong understanding of the Indian spirits markets was key. With Tilaknagar Industries’ support, we see an opportunity to make authentic 100% Blue Weber Agave tequila more accessible to Indian consumers at a compelling premium price point. Bodega Suprema No. 5 is the first step in building that proposition and introducing it to consumers across India,” Mohnish Mehta, Founder, Black Tiger Distilleries, said.