Agribio Spirits Ltd Acquires Solkit Distillery & Brewery Private Limited for Rs. 13 Crores

Agribio Spirits Ltd has entered into a Share Purchase Agreement with Solkit Distillery & Brewery Private Limited for the acquisition of 100% of its total issued and paid-up capital. The cost of acquisition is Rs. 13 Crores. Solkit Distillery & Brewery Private Limited is a company incorporated under the Companies Act, 1956, and is running bottling (Manufacturing) of Country Liquor/ Rajasthan Made Liquor and India Made Foreign Liquor with a capacity of 1,45,000 approx. on franchise basis. The acquisition has been made to carry on the business of manufactures, processors, rectifiers, refiners, bottlers, malters, brewers, distillers, importers, exporters, traders, buyers, sellers, stockists, suppliers, whole sellers, retailers, brokers, agents, and outside the main line of business of the listed entity. The acquisition does not fall within related party transactions and no governmental or regulatory approvals are required for the same.