Globus Spirits Limited has agreed to forge a joint venture partnership with ANSA McAL Limited. Under this agreement, the companies will establish an equally owned joint venture in India to engage in manufacturing, sourcing, and distribution of beer.
“We believe that the company will play a pivotal role in meeting consumer demand and driving growth in the Indian beverage sector,” the company said in its stock exchange filing.
The stock of Globus Spirits rose 3.41 per cent on the NSE, trading at ₹810 as of 10.47 am. The company had recently commenced commercial production of additional capacity at two of its existing units located at District East Singhbhum, Jharkhand and atPanagarh, Dist:Burdwan, West Bengal.