Cupid Breweries And Distilleries Ltd — Important, 01-01-1970: Company Update

Saffron Capital Advisors has announced an open offer for Cupid Breweries and Distilleries, led by Acquirers Erramilli Venkatachalam Prasad, Rodrigues Bhagvandas Lily, and PAC Erramilli Rishab. They aim to acquire up to 9.60 lakh equity shares, representing all public shareholding at 1.85% of the company's current capital. The offer price is ₹71.80 per share, totaling ₹6.89 Crore, which includes interest for a 717-day delay in making the offer. This offer follows the Acquirers gaining management control via a loan agreement and a significant preferential allotment. The acquisition strengthens the company's AlcoBev business, with a majority stake now held by the Acquirers. An independent directors' committee will provide its view on the offer.