Cupid Breweries and Distilleries Limited has filed a substantial acquisition disclosure under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure pertains to the acquisition of shares by Sri Venkata Rajeswara Rao Samavedam, who is not part of the promoter or promoter group.

Acquisition Details

The acquisition was executed through preferential allotment dated March 02, 2026. Samavedam acquired 1,05,71,277 equity shares, representing 11.57% of the company's total voting capital.

Share Capital Changes

The preferential allotment significantly expanded the company's equity base. The total equity share capital increased substantially following the allotment.

Transaction Characteristics

The newly allotted equity shares rank pari-passu with existing shares in all respects, including dividend entitlements. The acquirer holds no encumbrances, warrants, or convertible securities in the company. The shares were acquired solely through the preferential allotment mechanism.

Regulatory Compliance

The disclosure was filed in accordance with Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Cupid Breweries and Distilleries Limited is listed on BSE Limited. The acquirer's PAN is ANXPS8009D, and the disclosure was digitally signed on March 04, 2026.

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.