Tilaknagar Industries Limited announced the completion of the first tranche of an investment in Black Tiger Distilleries Private Limited, amounting to Rs 5,99,99,957.36, for the subscription of 14,628 compulsorily convertible preference shares and 100 equity shares, resulting in Tilaknagar Industries holding approximately 12.5% of the paid-up share capital of Black Tiger Distilleries on a fully diluted basis.