Cupid Breweries And Distilleries Limited , a prominent player in the alcoholic beverage industry, conducted an Extra-Ordinary General Meeting (EGM) on October 27, 2025, addressing key corporate matters and potential fundraising initiatives.

Meeting Details

The EGM, held via video conferencing, commenced at 12:00 noon IST and concluded at 12:36 PM IST. Mr. Erramilli Venkatachalam Prasad, the Chairman cum Managing Director, presided over the meeting, which saw the participation of all seven directors from various locations including Hyderabad, Mumbai, and Raipur.

Key Resolutions

Two special resolutions were put forth for shareholder consideration:

1. Alteration of the company's Articles of Association
2. Fund raising through securities issuance via Qualified Institutions Placement (QIP) and foreign currency convertible bonds

Voting Process

To ensure comprehensive shareholder participation, the company provided multiple voting opportunities:

• Remote e-voting facility from October 24-26, 2025
• Additional voting during the EGM
• Extended voting for 15 minutes post-EGM conclusion

Mrs. Bhumika Shah, a Practicing Company Secretary, was appointed as the scrutinizer to oversee the voting process, ensuring transparency and compliance.

Director Participation

The EGM saw full attendance from the board of directors:

Next Steps

The consolidated results of the remote e-voting and e-voting during the EGM will be announced after scrutiny. These results will be submitted to the stock exchanges and made available on the company's website ( www.cupidalcobev.com ) and NSDL's website, in compliance with SEBI regulations.

This EGM marks a significant step for Cupid Breweries and Distilleries Limited, potentially paving the way for strategic changes in its corporate structure and financial capabilities. Shareholders and market observers will be keenly awaiting the voting results and subsequent actions by the company.

In a significant corporate action, Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily have announced an open offer to acquire the entire public shareholding of Cupid Breweries And Distilleries Limited (formerly known as Cupid Trades and Finance Limited). This move comes as part of a substantial acquisition of shares in the target company.

Open Offer Details

The open offer aims to acquire up to 9,60,000 fully paid-up equity shares, representing 100% of the existing public shareholding of Cupid Breweries And Distilleries Limited. Here are the key details of the offer:

The offer price includes an interest component calculated at 10% per annum for the offer period, accounting for the delay in making the open offer.

Regulatory Compliance

The open offer is being made in compliance with Regulations 3(1) and 4 read with Regulations 13, 14, and 15(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This ensures that the acquisition process adheres to the regulatory framework set by SEBI.

Committee of Independent Directors' Recommendation

The Committee of Independent Directors (IDC) of Cupid Breweries And Distilleries Limited has reviewed the open offer and provided their recommendations:

1. The IDC views the offer price of ₹71.80 per share as fair and reasonable, aligning with the parameters prescribed by SEBI regulations.
2. The committee believes that the offer complies with SEBI (SAST) Regulations, 2011.
3. However, the IDC has noted that the company's shares are currently trading on BSE at prices higher than the offer price.

Advice to Shareholders

The IDC has advised shareholders to independently evaluate the open offer in light of the current share price and make an informed decision before participating in the offer. This recommendation underscores the importance of shareholders conducting their own assessment of the offer's value proposition.

Market Implications

This open offer represents a significant development for Cupid Breweries And Distilleries Limited and its shareholders. It provides an opportunity for public shareholders to exit their investment at a price that includes an interest component for the delay in the offer. However, the fact that the market price is currently higher than the offer price adds an interesting dynamic to the decision-making process for shareholders.

As the offer unfolds, it will be crucial to monitor market reactions and any potential changes in the company's share price. Shareholders are encouraged to stay informed about market conditions and seek professional advice if needed before making their decision on the open offer.