Cupid Breweries and Distilleries Limited has successfully completed major strategic acquisitions and expansion initiatives following its board meeting held on March 02, 2026. The company approved significant equity allotments totaling 4.44 crore shares and business expansion plans aimed at strengthening its position in the alcoholic beverages manufacturing sector.

Major Share Swap Transactions Completed

The board approved two substantial preferential allotments through share swap transactions, avoiding cash outflow while acquiring strategic assets. The allotments were structured in accordance with Chapter V of SEBI (ICDR) Regulations, 2018 and applicable provisions of the Companies Act, 2013.

Complete Acquisition of Rinpoche Spirits Private Limited

The company acquired 100% stake in Rinpoche Spirits Private Limited (RSPL) through the equity investment, gaining complete control over IMFL and breweries manufacturing operations. RSPL operates manufacturing facilities for alcoholic spirits and distilled beverages located in Odisha.

The acquisition enables complete operational control and is expected to strengthen manufacturing capabilities. The transaction completion is scheduled within 20 days from the allotment date through corporate action.

Strategic Multi-State Expansion Initiative

The board approved opening branch offices across five Indian states to expand business operations and strengthen market presence. These offices will support marketing, manufacturing, and regulatory compliance functions.

The branch offices will facilitate obtaining and operating excise licenses in accordance with applicable state excise policies, supporting the company's nationwide expansion strategy.

Regulatory Compliance and Board Meeting Details

The board meeting was conducted from 06:30 p.m. IST to 06:48 p.m. IST on March 02, 2026, with all resolutions approved as per regulatory requirements. The preferential allotments include both promoter and public category shareholders across both acquisitions.

A valuation report from a SEBI registered valuer has been obtained and made available on the company's website, ensuring arm's length transaction pricing. The company also executed a Memorandum of Understanding for purchase of a large production capacity running Alcobev unit in Odisha, with detailed terms to be disclosed upon execution of definitive agreements.

Cupid Breweries and Distilleries Limited has announced a significant increase in its authorized share capital, following shareholder approval at an extraordinary general meeting. The company disclosed this corporate action to BSE Limited on March 02, 2026, in compliance with regulatory requirements.

Authorized Share Capital Enhancement

The company has increased its authorized share capital and amended Clause V of its Memorandum of Association accordingly. The amendment received approval from shareholders during the Extra-Ordinary General Meeting held on January 27, 2026.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This ensures transparency and keeps stakeholders informed about material changes to the company's capital structure.

Documentation and Accessibility

Cupid Breweries and Distilleries Limited has committed to making the updated Memorandum of Association available on its official website at https://cupidalcobev.com/ . This step ensures easy access to the amended corporate documents for shareholders and other stakeholders.

The company, formerly known as Cupid Trades and Finance Limited, continues to maintain its listing on BSE Limited with scrip code 512361. The disclosure was signed by Sachin Rawat, who serves as the company's CFO and Company Secretary.