Cupid Breweries and Distilleries Limited has filed the mandatory disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming the completion of inter se transfer of equity shares between promoters. The regulatory filing was submitted within the prescribed timeline following the share transfer completed on January 1, 2026.

Transaction Overview

The share transfer involved promoter Erramilli Venkatachalam Prasad acquiring equity shares from his spouse, Mrs. Lily Bhagvandas Rodrigues, through a gift transaction with no monetary consideration. The transaction qualified for exemption from open offer obligations under Regulation 10(1)(a)(i) as it involved immediate relatives within the promoter group.

Shareholding Changes

The inter se transfer resulted in redistribution of shareholding between the promoter spouses, with both maintaining equal shareholding percentages post-transaction. The company's control structure remained unchanged as the shares continued within the promoter group.

Regulatory Compliance Status

Promoter Erramilli Venkatachalam Prasad confirmed that the Regulation 10(6) disclosure was filed within four working days from the acquisition date, ensuring compliance with SAST Regulations. The filing addressed the earlier delayed submission of Regulation 10(5) disclosure, which was filed on January 5, 2026, with a request for condonation of delay.

Key Regulatory Clarifications

The promoter clarified that a minor difference of 17 equity shares between the Regulation 10(5) and 10(6) disclosures was due to shares tendered pursuant to an open offer, which were credited to a separate demat account and not factored during the initial filing. The transaction maintained no change in company control and caused no prejudice to public shareholders, fulfilling all substantive provisions of SAST Regulations.

Cupid Breweries and Distilleries Limited has submitted a revised outcome of its board meeting held on January 03, 2026, correcting specific details related to its strategic acquisitions. The revision addresses corrections in the number of proposed allottees for the Crochet Industries Private Limited acquisition, while all other transaction terms remain unchanged.

Revision Details and Clarifications

The company clarified that discussions held at the November 27, 2025 board meeting regarding the proposed preferential issue by way of share swap were preliminary in nature and have been nullified as no further deliberations or actions were initiated. All other agenda items from that meeting remain valid and in force.

The primary correction relates to Annexure-B, which now reflects the accurate number of proposed allottees and corresponding total equity shares for the Crochet Industries acquisition:

Confirmed Acquisition Structure

The board has reconfirmed approval for two major acquisitions through preferential share issues, subject to shareholder approval:

Funding and Corporate Initiatives

The board has approved comprehensive funding arrangements to support business expansion:

The company has also approved making an application for listing on the National Stock Exchange of India Limited (NSE) in addition to its existing BSE listing to provide enhanced liquidity and an additional trading platform to investors.

Shareholder Approval Timeline

An Extraordinary General Meeting (EGM) remains scheduled for Tuesday, January 27, 2026, to seek necessary shareholder approvals for the proposed transactions. The board meeting was conducted from 04:35 p.m. to 05:30 p.m., with the regulatory filing signed by Sachin Rawat, CFO and Company Secretary.

The revised filing ensures accurate disclosure while maintaining the integrity of all approved transaction terms and strategic initiatives.