Cupid Breweries And Distilleries has achieved a significant milestone in its expansion plans with the receipt of land lease approval from the Government of Sikkim for its proposed brewing and beverage manufacturing unit. The approval marks a crucial step forward in the company's strategic initiative to establish operations in the northeastern state.

Government Approval Details

The company received official communication dated December 10, 2025, from the Commerce Industries Department, Government of Sikkim. The communication confirmed that the land lease for the proposed brewing and beverage manufacturing unit has been duly approved by the Chief Minister of Sikkim.

Next Steps and Formalities

Following the approval, the Government of Sikkim has requested Cupid Breweries And Distilleries to visit the Office of the District Collector to complete the required formalities. This administrative step will enable the company to proceed with the next phases of operationalizing the project.

The company has committed to initiating the necessary follow-up actions promptly and will keep stock exchanges informed of further material developments related to this project.

Strategic Expansion Initiative

This development represents a significant advancement in the company's proposed expansion plans for establishing a brewing and beverage manufacturing facility in Sikkim. The approval provides the foundation for Cupid Breweries And Distilleries to move forward with its manufacturing operations in the state.

The company disclosed this information in compliance with SEBI regulations, emphasizing its commitment to providing timely and accurate information to investors and stakeholders regarding material developments.

Cupid Breweries And Distilleries Limited (ISIN: INE108G01010) has submitted revised shareholding details, correcting errors in a previously filed report regarding a share swap transaction. The company, which has seen significant changes in its financial position, is proceeding with a strategic move involving its promoters.

Key Points of the Revision

• Corrections Made:

  • Equity shares held by promoters in Rinpoche Spirits Private Limited (RSPL)
  • Name correction for one of the shareholders
  • Consequential changes in the total RSPL shares

• Promoters Involved:

  • Mr. Erramilli Venkatachalam Prasad
  • Mrs. Lily Bhagvandas Rodrigues

Transaction Details

The promoters, jointly holding 50.08% of the paid-up share capital, are acquiring additional shares through a creeping acquisition. This transaction falls under Regulation 3(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and involves consideration other than cash.

Financial Context

While the share swap is a significant corporate action, it's important to view this in the context of the company's recent financial performance. Based on the latest balance sheet data:

The company has experienced substantial growth in its asset base, with total assets increasing by 490.91%. However, it's noteworthy that the company's equity remains negative, indicating ongoing financial challenges despite the asset growth.

Implications and Outlook

The share swap transaction and the corrections in shareholding details come at a time when Cupid Breweries And Distilleries Limited is showing signs of significant operational expansion, as evidenced by the sharp increase in assets. However, the negative equity position suggests that the company may be relying heavily on debt or other liabilities to fund this growth.

The creeping acquisition by the promoters could be seen as a vote of confidence in the company's future prospects, despite the current financial position. Investors and market watchers will likely be keen to see how this transaction and the company's rapid asset growth translate into improved financial performance and equity position in the coming quarters.

Stakeholders are advised to closely monitor future financial reports and corporate announcements for a comprehensive understanding of the company's strategic direction and financial health.