Cupid Breweries Allots 4.44 Crore Shares in Strategic Acquisitions and Expansion Drive

Cupid Breweries and Distilleries Limited has announced major strategic acquisitions and expansion initiatives following its board meeting held on March 02, 2026. The company approved significant equity allotments and business expansion plans aimed at strengthening its position in the alcoholic beverages manufacturing sector. Major Equity Allotments Through Share Swap The board approved two substantial preferential allotments totaling 4.44 crore equity shares at ₹90 per share, including a premium of ₹80 per share. These allotments were structured as share swap transactions rather than cash considerations. Transaction Details: Rinpoche Spirits Crochet Industries Shares Allotted: 3,87,08,920 6,51,387 Face Value: ₹10 per share ₹10 per share Issue Price: ₹90 per share ₹90 per share Premium: ₹80 per share ₹80 per share Consideration Type: Share swap Share swap Complete Acquisition of Rinpoche Spirits Private Limited The company acquired 100% stake in Rinpoche Spirits Private Limited (RSPL) through the equity investment. RSPL operates in manufacturing alcoholic spirits and distilled beverages (IMFL) with facilities located in Odisha. RSPL Company Profile: Details Authorized Share Capital: ₹4,50,00,000 Paid-up Share Capital: ₹4,49,60,380 Total Equity Shares: 44,96,038 shares of ₹10 each Date of Incorporation: November 29, 2018 Revenue (March 31, 2025): ₹34,90,720 Turnover (March 31, 2025): NIL Geographic Presence: India (Odisha facilities) The acquisition enables complete control over IMFL and breweries manufacturing operations, strengthening operational capabilities. The transaction is expected to complete within 20 days from the allotment date through corporate action. Strategic Expansion Initiatives The board approved execution of a Memorandum of Understanding for purchasing a large-scale alcoholic beverage production unit in Odisha. The detailed terms and consideration for this acquisition will be communicated upon execution of definitive agreements. Additionally, the company approved opening branch offices across multiple Indian states to expand business operations: West Bengal Odisha Sikkim Goa Karnataka These branch offices will strengthen marketing and manufacturing support functions, hold operational assets, and facilitate obtaining excise licenses in accordance with applicable state policies. Allottee Categories and Compliance The preferential allotments include both promoter and public category shareholders. For Rinpoche Spirits acquisition, the allottees comprise promoters Venkatachalam Prasad Erramilli and Bhagvandas Lily Rodrigues, along with various public shareholders. All Crochet Industries allottees fall under the public category. The transactions comply with Chapter V of SEBI (ICDR) Regulations, 2018 and applicable provisions of the Companies Act, 2013. A valuation report from a SEBI registered valuer has been obtained and made available on the company's website. The board meeting commenced at 06:30 p.m. IST and concluded at 06:48 p.m. IST on March 02, 2026. Cupid Breweries and Distilleries Limited has announced a significant increase in its authorized share capital, following shareholder approval at an extraordinary general meeting. The company disclosed this corporate action to BSE Limited on March 02, 2026, in compliance with regulatory requirements. Authorized Share Capital Enhancement The company has increased its authorized share capital and amended Clause V of its Memorandum of Association accordingly. The amendment received approval from shareholders during the Extra-Ordinary General Meeting held on January 27, 2026. Parameter: Details New Authorized Share Capital: Rs. 111,00,00,000 (Rupees One Hundred and Eleven Crores Only) Total Equity Shares: 11,10,00,000 (Eleven Crores Ten Lakhs Only) Face Value per Share: Rs. 10 Approval Date: January 27, 2026 Disclosure Date: March 02, 2026 Regulatory Compliance The disclosure was made in accordance with Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This ensures transparency and keeps stakeholders informed about material changes to the company's capital structure. Documentation and Accessibility Cupid Breweries and Distilleries Limited has committed to making the updated Memorandum of Association available on its official website at https://cupidalcobev.com/ . This step ensures easy access to the amended corporate documents for shareholders and other stakeholders. The company, formerly known as Cupid Trades and Finance Limited, continues to maintain its listing on BSE Limited with scrip code 512361. The disclosure was signed by Sachin Rawat, who serves as the company's CFO and Company Secretary. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. 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