Asgard Alcobev Limited has announced a significant leadership appointment, with its board of directors approving the designation of Shri Rohit Jain as Chairman Emeritus & Strategic Advisor to the Board. The appointment, effective March 21, 2026, represents the company's strategic move to leverage experienced industry leadership for continued growth and governance excellence.

Board Meeting Outcomes

The board meeting, conducted on March 21, 2026, at the company's registered office, commenced at 4:00 PM and concluded at 6:15 PM. The primary agenda focused on the appointment of Shri Rohit Jain to the newly created advisory position.

Strategic Leadership Addition

The appointment aims to continue benefiting from Shri Jain's vast knowledge, experience, and wisdom in an advisory capacity. Asgard Alcobev Limited emphasized that this strategic decision will contribute meaningfully to the organization's growth trajectory and governance framework.

Professional Background and Expertise

Shri Rohit Jain brings diversified entrepreneurial experience across multiple industries, including breweries, distilleries, cement, steel, and allied sectors. His professional credentials include:

• Founding Leadership: Helped establish CMJ Breweries Private Limited in 2007
• Business Scaling: Successfully led CMJ Breweries' growth into a well-recognized enterprise
• Market Presence: Built strong regional presence and established market credibility
• Operational Excellence: Demonstrated expertise in quality focus, cost efficiency, and operational excellence

Industry Experience and Vision

Shri Jain's hands-on approach and deep understanding of industrial operations have enabled effective execution of large-scale projects and efficient resource management. His pragmatic decision-making approach, combined with forward-looking vision, positions him to provide significant strategic insight and leadership experience to Asgard Alcobev Limited.

Regulatory Compliance

The appointment complies with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows the SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has fulfilled all disclosure requirements for the advisory appointment, noting that the position is advisory in nature and not a directorial role.

Navigant Corporate Advisors Limited has submitted the Letter of Offer to SEBI for Asgard Alcobev Limited (formerly Banganga Paper Industries Limited), confirming the open offer schedule for April 6-20, 2026. The submission follows the revised timeline announced in the earlier corrigendum, which extended key dates by approximately two months due to SEBI review delays.

Open Offer Details

The open offer involves the acquisition of up to 9,17,41,759 equity shares of Re. 1/- each at a price of Rs. 1.45 per fully paid-up equity share, representing 26.00% of the expanded equity and voting share capital. The acquirers include Ronak Jain, Sarita Jain, Priyanka Jain, and K K Impex & Trading Private Limited, along with persons acting in concert Karan Jain, Karishma Rohit Jain, and Radhika Karan Jain.

Confirmed Timeline Schedule

The Letter of Offer confirms the revised schedule of activities with the offer period running from April 6 to April 20, 2026:

Regulatory Compliance and Structure

The submission includes comprehensive documentation in compliance with SEBI (SAST) Regulations, 2011. The acquirers have established adequate financial arrangements with Rs. 13,80,000 deposited in an escrow account and bank guarantees aggregating Rs. 1,334.43 lacs provided by Kotak Mahindra Bank Limited.

The offer is being conducted through BSE Limited's acquisition window mechanism, with Allwin Securities Limited appointed as the buying broker. Adroit Corporate Services Private Limited serves as the registrar to the offer, handling the settlement and processing of tendered shares.

Target Company Transformation

Asgard Alcobev Limited, incorporated under CIN L11010MH1984PLC033082, has undergone significant transformation including name changes and business diversification into alcoholic and non-alcoholic beverage manufacturing. The company's registered office is located at Sr. No. 186, Gavalwadi Road, Ashewadi, Ramshej, Nashik, Maharashtra.

Post completion of the offer, assuming full acceptance, the acquirers and PACs will hold 29,93,71,439 equity shares constituting 84.84% of the expanded equity and voting share capital, establishing control over the target company.