Asgard Alcobev Limited has successfully obtained approval from BSE Limited for its corporate name change from banganga paper industries Limited. The approval was communicated through an official letter dated April 10, 2026, marking a significant milestone in the company's corporate transformation.

Regulatory Compliance and Documentation

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Jitendra Rajendra Patil formally communicated the approval to BSE Limited's Listing Department, ensuring proper regulatory compliance and transparency.

Trading System Implementation

BSE Limited has issued Notice No. 20260410-23 informing trading members about the corporate name change. The exchange will implement the new identity in its BOLT Plus trading system from April 17, 2026. The company will retain its existing scrip code 512025, ensuring continuity for investors and trading members.

Corporate Structure Details

Asgard Alcobev Limited operates with its corporate office located at Ferndale Complex, CMJ House, Block III, Keating Road, Shillong, Meghalaya, while maintaining its registered office in Nashik, Maharashtra. The company's CIN remains L11010MH1984PLC033082, reflecting its original incorporation in 1984.

Market Impact and Implementation

The name change represents the company's strategic repositioning in the alcoholic beverages sector. Trading members and investors have been notified through official BSE channels to ensure smooth transition during the implementation period. The approval demonstrates the company's commitment to regulatory compliance and transparent corporate governance practices.

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.