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.

Cupid Breweries and Distilleries Limited announced a significant business development on December 30, 2025, following a high-level meeting with the Hon'ble Chief Minister of Goa. The meeting focused on the company's expansion plans and regulatory requirements for establishing manufacturing operations in the state.

Key Discussion Points

The management team presented four critical business initiatives during the meeting with the Chief Minister:

Regulatory Framework and Expansion Strategy

The company emphasized that the discussions were constructive and focused on facilitating the proposed initiatives within the applicable regulatory framework. This indicates a collaborative approach between Cupid Breweries and Distilleries Limited and the Goa state government toward establishing manufacturing operations in the region.

The meeting addressed both the parent company's direct manufacturing ambitions and the operational status of its subsidiary, Forte Spirits Private Limited. The subsidiary already holds an existing license, and discussions covered the commencement of its commercial operations along with securing additional brewery licensing.

Business Development Implications

The engagement with Goa's Chief Minister represents a strategic move by Cupid Breweries and Distilleries Limited to expand its manufacturing footprint in one of India's key markets for alcoholic beverages. The comprehensive nature of the discussions, covering land acquisition, multiple product categories, and subsidiary operations, suggests a substantial expansion plan.

Future Disclosures

The company has committed to making appropriate disclosures in accordance with applicable laws as and when there are material developments regarding these initiatives. This regulatory filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders about significant business developments.