What is Mohan Meakin Limited known for?

Mohan Meakin Limited is best known for Old Monk rum, one of India's most iconic dark rum brands. The company also produces Golden Eagle beer, Solan No.1 whisky, and other IMFL products.

When was Mohan Meakin Limited founded?

The Solan Brewery was established in 1855 by the British. The company was incorporated in its modern form in 1934 as Dyer & Meakin Breweries Limited, later renamed Mohan Meakin Limited after the Mohan family took control.

Who are the promoters of Mohan Meakin?

The company is promoted and controlled by the Mohan family. H.G. Mohan and family are the primary promoters.

What is the ISIN of Mohan Meakin Limited?

The ISIN of Mohan Meakin Limited is INE277C01015.

Why is Old Monk rum so iconic in India?

Old Monk rum has been produced since the 1950s and became a cultural institution in India, particularly popular among defence personnel, college students, and middle-class consumers. Its distinctive bottle design and consistent quality built decades of brand loyalty.

Is Mohan Meakin listed on any stock exchange?

Mohan Meakin Limited is not listed on BSE or NSE. It is an unlisted public limited company. Its shares trade in the unlisted (grey) market.

How do I buy Mohan Meakin 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 Mohan Meakin?

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 Mohan Meakin 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.

Mohan Meakin Unlisted Share Price | Buy Mohan Meakin Pre-IPO Shares — wisefolio

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

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Mohan Meakin Unlisted Share Price | Buy Mohan Meakin Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Mohan Meakin Limited is one of India's oldest and most storied alcoholic beverage companies, best known for Old Monk rum and Golden Eagle beer from the historic Solan Brewery established in 1855. While the company retains significant brand equity and a loyal consumer base, it faces challenges from well-funded multinational competitors and changing consumer preferences. The unlisted structure and moderate share price of ₹2,190 reflect its niche position as a heritage Indian IMFL company.

Pros

Home of Old Monk rum — one of India's most iconic and beloved alcohol brands with decades of brand loyalty and near-cult following
One of India's oldest breweries, with the Solan Brewery dating to 1855, providing unmatched heritage and legacy brand equity
Diversified alcoholic beverage portfolio spanning IMFL (rum, whisky, brandy, vodka, gin) and beer under brands like Golden Eagle and Gymkhana
Established distribution network across India with strong presence in defence canteen stores (CSD), which has historically been a key revenue channel
Owned brewery and distillery assets in Himachal Pradesh provide production cost advantages

Cons

Old Monk's market share in the rum category has declined significantly over the past two decades due to competition from Bacardi, McDowell's No.1 Rum, and Royal Stag
As an unlisted company, shares are thinly traded and lack exchange-level price discovery and liquidity
Heavily regulated industry — state-level excise policies, licensing requirements, and distribution restrictions create operational complexity
Limited brand investment and marketing spend compared to MNC beverage companies like Diageo, Pernod Ricard, and AB InBev
Ageing product portfolio with limited new product launches to attract younger consumers

Business Segments

IMFL (Indian Made Foreign Liquor)

Production and sale of rum (Old Monk), whisky (Solan No.1, Colonel's Special), brandy, vodka, and gin under proprietary brands. Old Monk is the flagship product with national distribution.

Beer

Manufacturing and distribution of Golden Eagle beer and Gymkhana beer brands from the Solan and other breweries. Golden Eagle is a premium lager with heritage positioning.

Other Food & Beverages

Non-alcoholic beverages and food products including apple juice and other products from Himachal Pradesh facilities.

Revenue Model

Mohan Meakin generates revenue by manufacturing and selling IMFL and beer products through a network of state government approved distributors across India. Revenue is primarily driven by volumes sold through CSD (Canteen Stores Department), state beverage corporations, and licensed retail outlets. The company benefits from manufacturing in Himachal Pradesh, which has historically offered excise duty advantages.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds14

Growth Plans

India's premium alcohol segment growing rapidly — premiumisation tailwind could benefit a repositioned Old Monk

Rum category growth as younger Indian consumers explore beyond whisky

Heritage brand value of Old Monk and Solan Brewery attracts nostalgia-driven marketing opportunities

Potential listing on stock exchanges could unlock significant shareholder value

Recent Developments

Old Monk brand repositioning efforts

Mohan Meakin has been working on modernising the Old Monk brand with limited edition packaging and social media engagement to attract younger consumers while retaining its nostalgic appeal.

2023-06

Continued unlisted market activity

Mohan Meakin shares continue to trade in the unlisted market at significant premiums, reflecting investor interest in the heritage IMFL brand portfolio.

2022-01

Comparable Companies

CompanyTypeTickerMkt Cap

United Spirits (Diageo India)ListedMCDOWELL-N~₹90,000 Cr (listed)

Radico KhaitanListedRADICO~₹23,000 Cr (listed)

Globus SpiritsListedGLOBUSSPR~₹2,500 Cr (listed)

Associated Alcohols & BreweriesListedASALCBR~₹1,200 Cr (listed)

Frequently Asked Questions

About Mohan Meakin

Mohan Meakin Limited is one of India's oldest and most iconic alcoholic beverage companies, with roots dating back to 1855 when Edward Dyer established a brewery in Kasauli, Himachal Pradesh. The company is best known as the maker of Old Monk rum — arguably India's most iconic rum brand with over six decades of heritage and a cult following. Listed as a public limited company (CIN: L15520HP1934PLC000135) since 1934, Mohan Meakin is one of India's oldest registered companies still in active operation. For FY2024, Mohan Meakin reported total net revenue of ₹1,94,177 lakh (approximately ₹1,941 crore), a 9.17% increase from ₹1,77,858 lakh in the previous year. Operating profit (EBITDA) grew 24.6% to ₹111.2 crore in FY2024, supported by 6% volume growth. The company's revenue is overwhelmingly concentrated in rum — which contributed 87% of total IMFL sales in FY2024. ICRA rates Mohan Meakin (rating rationale issued September 2024) and highlights the company's exceptional financial profile: interest coverage of approximately 147 times and a total liabilities-to-net worth ratio of just 0.46 times — reflecting an extremely conservative balance sheet. The company has zero meaningful debt burden, making it one of the most financially conservative IMFL producers in India. Old Monk rum has earned a unique cult status in India — despite relatively modest pricing compared to premium spirits, it commands extraordinary brand loyalty particularly among Indian Armed Forces officers, students, and long-time rum enthusiasts. Mohan Meakin has attempted to diversify beyond rum into whiskey, vodka, and gin, but these efforts have not yet generated material revenue. The company also operates the Golden Eagle and Asia 72 beer brands. Mohan Meakin's unlisted shares are actively traded in the secondary market at a premium given the company's brand heritage and clean financials.

Key Milestones

1855 — Solan Brewery established by British entrepreneur Edward Dyer near Kasauli, Himachal Pradesh — one of Asia's oldest breweries

Common questions about unlisted shares

How do I buy Mohan Meakin 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.

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