Bacardi could be set to invest in the Indian market place and could be in the reckoning if United Spirits (USL) went ahead with the private placement of a minority stake in the company.

That is according to online publication the Economic Times (ET), which claims that the Bermuda-based drinks giant would look at "inorganic growth opportunities", provided it was profitable and carried "distribution muscle".

"We have been 'very slow' in growth markets like India, but that is changing now. The Bacardi family and myself as chief executive are committed to it," Andreas Gembler, Bacardi CEO, told the ET.

The ET said that Mr Gembler indicated that Bacardi would be interested in USL's potential move for private placement of treasury stocks with a strategic partner.

Bacardi's Asia Pacific commercial operations director Harold Dyrvik, added that "nothing is at work with United Spirits at present", said the ET.

Earlier this year, USL boss Vijay Mallya said he had received unsolicited interests from several suitors for buying a small stake in USL, it added.

"They know that I hold treasury stocks and want to explore possibilities," he said.

In January, the ET reported that UK-based spirit giant Diageo, makers of Johnnie Walker whiskies and Smirnoff vodka, had held talks to buy into USL.

It is believed that USL could off-load treasury stocks representing a 10- to 12-percent stake in the company. The treasury stocks were generated from the overlapping capital of merging group companies, especially Shaw Wallace (SWC), into USL, the publication stated.

The ET said sources claimed USL could be open to offering shares at a price band of 2,500-3,000 rupees per share, which constitutes a significant premium to the prevailing market price.

Meanwhile, Bacardi, with annualised sales of just around one million cases in India has lagged behind global peers Diageo and Pernod Ricard, it said. The global giant has been scouting for buyout opportunities in a market heavily dominated by Mr. Mallya's spirit empire.

It looked at some of the traditional spirits companies that have increasingly become regional players in a consolidating drinks business, but without a breakthrough till now. Mr. Gembler and Mr. Dyrvik said India and China were the company's priority growth markets.

Bacardi operating brand portfolio in India include locally bottled Carta Blanca white rum, Eristoff vodka, Bacardi Breezer RTD and imported brands like Grey Goose vodka, Bombay Sapphire gin, 42 Below vodka and Dewar's 12 year-old scotch.