Navigant Corporate Advisors Limited has submitted the pre-offer advertisement to BSE for the open offer to acquire equity shares of Asgard Alcobev Limited . The Committee of Independent Directors at the company has concluded that the ongoing open offer by a consortium of acquirers is fair and reasonable to shareholders, with the offer now scheduled to open on April 6, 2026.

Pre-Offer Advertisement Submission

Navigant Corporate Advisors Limited, serving as manager to the offer, submitted the pre-offer advertisement on April 2, 2026, in compliance with Regulation 18(7) of SEBI SAST Regulations 2011. The advertisement was published across multiple newspapers including Business Standard English and Hindi editions, Pratakh Marathi Daily Mumbai edition, and Prahaar Marathi Daily Nashik edition.

Open Offer Parameters

The open offer seeks to acquire a significant stake in the company through a structured acquisition process led by a consortium of four primary acquirers and three persons acting in concert.

Revised Schedule of Activities

The offer timeline has been revised from the original schedule, with key dates extended to accommodate regulatory processes. The Letter of Offer dispatch was completed on March 24, 2026, and SEBI provided final observations on March 13, 2026.

Committee of Independent Directors Assessment

The Independent Directors Committee, comprising Mr. Mundrath Ravindranathan as Chairman, Mr. M S Venkatesh Prabhu, and Mr. Keshava Lakshminarayana Patkar as members, concluded the offer is fair and reasonable. None of the IDC members hold equity shares or have trading activity in company securities.

Acquirer Consortium Structure

The acquisition is being led by Ronak Jain, Sarita Jain, Priyanka Jain, and K K Impex & Trading Private Limited as primary acquirers, working with Karan Jain, Karishma Rohit Jain, and Radhika Karan Jain as persons acting in concert. The Letter of Offer is available on SEBI's website and the manager's website, with shareholders able to participate through their respective brokers during the offer period.

Asgard Alcobev Limited has successfully completed the dispatch of its postal ballot notice dated March 19, 2026, and published newspaper intimation confirming regulatory compliance for the director appointment process. The company has notified BSE Limited about the completion of dispatch to all eligible shareholders.

Postal Ballot Notice Dispatch Completion

The company has fulfilled its regulatory obligations by completing the dispatch of postal ballot notices to shareholders whose names appear in the Register of Members as on the cut-off date of March 20, 2026. Company Secretary Jitendra Rajendra Patil confirmed the completion through official communication to BSE Limited on March 30, 2026.

Newspaper Publication Requirements

In compliance with regulatory requirements, the company published newspaper notices in both English and regional languages on March 29, 2026:

Key Director Appointments Under Consideration

The postal ballot seeks shareholder approval for five critical director appointments that will strengthen the company's leadership structure:

E-voting Timeline and Process

The company has established a comprehensive e-voting framework through Central Depository Services Limited (CDSL) for shareholder participation:

Managing Director Remuneration Package

The proposed remuneration structure for Managing Director Ronak Jain reflects the company's commitment to attracting experienced leadership:

Company Financial Performance

The postal ballot notice highlights the company's remarkable financial transformation:

The completion of postal ballot dispatch marks a significant milestone in the company's governance process, ensuring all eligible shareholders can participate in the critical director appointment decisions that will shape Asgard Alcobev's future leadership structure.

Source: None/Company/INE767M01029/e68dd0d9-4f15-43e9-ba97-5e8c465f0ac3.pdf