Banganga Paper Industries Ltd — Important, 01-01-1970: Company Update

Asgard Alcobev Limited (formerly Banganga Paper Industries Limited) is undergoing an open offer by Mr. Ronak Jain and associated entities to acquire up to 9.17 Cr equity shares at Rs. 1.45 each. This strategic acquisition, following a preferential allotment and share purchase, aims to secure significant control for the acquirers, potentially reaching 84.84% of the expanded equity. The company's business focus has shifted to manufacturing and trading alcoholic and non-alcoholic beverages, and hospitality. The new management intends to grow and diversify operations. Acquirers have confirmed sufficient resources for the 13.30 Cr offer.