What is the relationship between Lacy Limited and Sunrise Distilleries?

Based on available information, Lacy Limited (CIN: L15511DL1985PLC021272) appears to have operated under the business identity of Sunrise Distilleries, or may have changed its primary business to financing and investing activities related to the distilleries industry. The exact corporate relationship requires verification from MCA filings.

Where is Lacy Limited registered?

Lacy Limited is registered with the Registrar of Companies, Delhi, with CIN L15511DL1985PLC021272, incorporated in 1985.

How do I buy Lacy Limited unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Lacy Limited?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Lacy Limited shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Lacy Limited Unlisted Share Price | Buy Lacy Limited Pre-IPO Shares — wisefolio

Q: Is Lacy Limited a distillery company?

Not directly. The company is described as being primarily engaged in financing and investing activities in the distilleries industry, rather than being a direct distillery manufacturer or operator.

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Lacy Limited Unlisted Share Price | Buy Lacy Limited Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Lacy Limited is a niche unlisted investment vehicle with exposure to India's distilleries sector, operating under the Sunrise Distilleries identity. The company's transparency is extremely limited and its investment portfolio is unverifiable from public sources. While the distilleries sector itself has stable long-term demand drivers, the company's own governance standards and financial health remain opaque, making this a high-risk, low-visibility investment.

Pros

Incorporated in 1985, giving the company over 35 years of existence with continuity of corporate structure under Delhi ROC jurisdiction
ISIN assigned (INE036S01018), indicating the company has a formal securities identity even as an unlisted entity
Financing and investing model in the distilleries sector provides exposure to a stable and regulated FMCG-adjacent industry without direct operational risk of distillery management
The distilleries sector in India is protected by excise regulations and state licensing, creating defensible revenue streams for companies with sector exposure
At ₹5 per share, the nominal price suggests the stock may be at or near face value, potentially limiting absolute downside if there is any residual book value

Cons

The company's operational identity is unclear — it appears to operate under the 'Sunrise Distilleries' name but is registered as Lacy Limited, suggesting possible restructuring or business discontinuity
Financing and investing companies in unlisted micro-cap space often lack operational scale, generating minimal income from interest or dividends on their portfolio
No public website or digital presence, indicating extremely limited business activity and investor communication
Minimal public financial data available; shareholders have very limited visibility into asset quality of the investment portfolio
The distilleries sector is heavily regulated by state governments with varying excise policies, creating jurisdiction-specific risk for any investment portfolio in this space

Business Segments

Financing & Investing — Distilleries Sector

The company is primarily engaged in financing and investing activities with exposure to the distilleries industry. Activities may include lending to distillery businesses, holding equity stakes in distillery-related entities, or providing working capital finance.

Revenue Model

Lacy Limited generates revenue through financing and investing activities in the distilleries sector. Revenue streams likely include interest income on loans advanced to distillery companies and dividend or capital gains income from equity investments in the distilleries space. The company functions as a non-banking investment vehicle rather than an operating business.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds9

Growth Plans

Growth in India's premium spirits and IMFL (Indian Made Foreign Liquor) market benefiting distillery investees

Potential consolidation in the distilleries sector creating valuation upside for equity stakes held

Any move toward listing or formal restructuring improving shareholder liquidity

Industry Tailwinds

Growth in India's premium spirits and IMFL (Indian Made Foreign Liquor) market benefiting distillery investees

Recent Developments

Continued unlisted status

Lacy Limited continues to operate as an unlisted public company with no announced listing plans. Business activity remains limited to financing and investing in the distilleries sector.

2024-01

Comparable Companies

CompanyTypeTickerMkt Cap

United Spirits LimitedListedUNITDSPR~₹75,000 Cr (listed)

Radico Khaitan LimitedListedRADICO~₹25,000 Cr (listed)

Globus Spirits LimitedListedGLOBUSSPR~₹3,000 Cr (listed)

United Spirits LimitedListed

UNITDSPR · ~₹75,000 Cr (listed)

Frequently Asked Questions

About Lacy Limited

Lacy Limited is a Delhi-based manufacturer of country liquor products, incorporated on 21 June 1985 under CIN L15511DL1985PLC021272 and registered with the Registrar of Companies, Delhi. The company is a publicly listed entity with its registered office at G20, Third Floor, Preet Vihar, East Delhi, Delhi 110092. With over 40 years of operations, Lacy Limited has established itself in India's regulated country liquor manufacturing segment. The company's principal business activity is the manufacture of country liquor (also classified under Indian Made Foreign Liquor and related spirits categories) — a regulated sector where state-level excise policy determines both production volumes and pricing. Country liquor manufacturing in Delhi operates under strict Excise Department licensing and is subject to quality standards mandated under the Food Safety and Standards Authority of India (FSSAI) framework. Country liquor represents the mass-market segment of India's Rs. 3+ lakh crore spirits industry, serving price-sensitive consumers through licensed retail outlets (L-1 to L-10 category shops). Manufacturers like Lacy Limited operate with state-allocated production quotas and supply directly to government-approved distribution channels. The sector, while traditionally low-margin, provides stable volumes due to consistent demand and limited competition from premium or imported spirits at that price point. As a listed public limited company, Lacy Limited maintains compliance with BSE listing obligations and SEBI regulations. The East Delhi registered office in Preet Vihar places it in a commercially active part of the capital. With 40 years in operation, the company has demonstrated longevity in a highly regulated, compliance-intensive industry. The Indian state-controlled liquor market is undergoing gradual reform with several states experimenting with private retail models — a structural change that could alter distribution economics for manufacturers like Lacy over the medium term.

Key Milestones

1985 — Incorporated as Lacy Limited in New Delhi under CIN L15511DL1985PLC021272

Common questions about unlisted shares

How do I buy Lacy Limited unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?
Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

Risk factors & red flagsInvestment risks and items flagged from public filings10

Fraud / GovernanceLow

The discrepancy between the registered name (Lacy Limited) and operating name (Sunrise Distilleries) creates potential corporate governance and identity clarity issues for investors.

Source: Media Reports / Public Records

Regulatory / LegalLow

Single-sector focus on distilleries exposes the company entirely to regulatory and policy risks specific to alcohol manufacturing and excise policy in India.

Source: Regulatory Filings

Fraud / GovernanceLow

Unlisted status means shares cannot be sold on any exchange. The ₹5 price reflects private transactions only, with no guarantee of buyer availability.

Source: Company Financial Filings

Fraud / GovernanceLow

Distilleries in India are regulated at state level with highly variable excise policies; changes in state government policy can materially impact investee businesses and hence portfolio value.

Source: Media Reports / Public Records

Leverage & DebtLow

No publicly available financial statements or annual reports; investors cannot assess portfolio quality, debt levels, or asset coverage.

Source: AlphaHub Research

Business Identity Risk

The discrepancy between the registered name (Lacy Limited) and operating name (Sunrise Distilleries) creates potential corporate governance and identity clarity issues for investors.

Concentration Risk

Single-sector focus on distilleries exposes the company entirely to regulatory and policy risks specific to alcohol manufacturing and excise policy in India.

Liquidity Risk

Unlisted status means shares cannot be sold on any exchange. The ₹5 price reflects private transactions only, with no guarantee of buyer availability.

Regulatory Risk

Distilleries in India are regulated at state level with highly variable excise policies; changes in state government policy can materially impact investee businesses and hence portfolio value.

Transparency Risk

No publicly available financial statements or annual reports; investors cannot assess portfolio quality, debt levels, or asset coverage.

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