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

Acquirers Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily, along with PAC Erramilli Rishab, have initiated a mandatory open offer for Cupid Breweries and Distilleries Limited. They aim to acquire up to 9.60 lakh equity shares at ₹71.80 per share, totaling ₹6.89 Cr. This price includes ₹11.80 interest per share due to a delay in the offer, which follows their acquisition of management control on December 8, 2023. The independent directors consider the offer fair and reasonable. Shareholders can tender shares from October 27 to November 10, with payment by November 24. This move is part of their plan to expand the company's AlcoBev business.