Cupid Breweries and Distilleries Limited has appointed Mr. Meharbaba Prasad Kalidasu and Mr. Soundara Pandian as Additional Independent Directors effective July 02, 2026. The Board of Directors approved the appointments during its meeting held on July 02, 2026. These strategic additions aim to strengthen the company's governance framework with extensive expertise in banking and finance.

Mr. Meharbaba Prasad Kalidasu (DIN: 11069073) brings over 38 years of experience in the banking sector, primarily with the State Bank of India. His career includes leadership roles in Corporate Finance, Project Finance, and Risk Management, where he managed business portfolios exceeding ₹60,000 crore. Mr. Kalidasu holds a Bachelor's Degree in Commerce (Hons.) and is a Certified Associate of the Indian Institute of Bankers.

Mr. Soundara Pandian (DIN: 07566951) is a banking and corporate governance professional with over 43 years of experience. He spent 34 years in banking, serving in senior positions at Tamilnad Mercantile Bank Limited and City Union Bank Limited. Since 2018, he has served as an Independent Director on various listed company boards. He holds a B.B.A. degree, is a CAIIB qualified banker, and is an IICA-MCA Certified Independent Director.

The Board meeting commenced at 04:40 p.m. (IST) and concluded at 04:52 p.m. (IST). The disclosure regarding the appointments was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointments Summary

Cupid Breweries and Distilleries Limited shareholders have approved the strategic acquisition of a manufacturing unit from United Spirits Limited and the appointment of Mr. Rohit Shetty as an Independent Director. Both special resolutions passed with the requisite majority, receiving 99.99% of votes in favour during the postal ballot process concluded on June 28, 2026. The approvals enable the company to proceed with expanding its manufacturing capabilities and strengthen its governance structure.

The e-voting process commenced on May 30, 2026, and concluded on June 28, 2026. Ms. Neha Poddar, Practicing Company Secretary, served as the Scrutinizer for the postal ballot. The record date for determining shareholder eligibility was May 22, 2026. The company communicated the notice via email to shareholders, adhering to Ministry of Corporate Affairs circulars that allow the dispatch of notices through electronic means.

The resolution for the strategic acquisition of the manufacturing unit from United Spirits Limited received 63,551,355 votes in favour and 5,851 votes against. The total number of votes polled was 63,557,206, representing 100% of the outstanding shares. Promoters and the promoter group, holding 49,328,999 shares, voted entirely in favour of the resolution. Public non-institutions, holding 14,228,207 shares, also supported the acquisition with 14,222,356 votes in favour.

Voting Results Summary

The second resolution regarding the appointment of Mr. Rohit Shetty (DIN: 07224494) as an Independent Director also secured overwhelming approval. The voting pattern mirrored the acquisition resolution, with 63,551,355 votes in favour and 5,851 votes against. Promoters and the promoter group cast all their shares in favour, while public non-institutions followed suit with a similar majority. The scrutinizer's report confirmed that both resolutions were passed with the required majority.

The postal ballot process was conducted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 108 and 110 of the Companies Act, 2013. National Securities Depository Limited (NSDL) provided the remote e-voting facility. The votes were unblocked and downloaded from the NSDL portal on June 29, 2026, in the presence of two independent witnesses. The results were subsequently countersigned by Sachin Rawat, CFO & Company Secretary of Cupid Breweries and Distilleries Limited.