Cupid Breweries Acquires 100% Stake in Rinpoche Spirits and Announces Equity Allotment to Shareholders

Cupid Breweries and Distilleries Ltd has approved the acquisition of 100% stake in Rinpoche Spirits Private Limited. The company will allot 3,87,08,920 equity shares of 310/- each at an issue price of 390/- per share to the shareholders of Rinpoche Spirits Private Limited. Additionally, Cupid Breweries will allot 6,51,387 equity shares of 310/- each at an issue price of 390/- per share to the shareholders of Crochet Industries Private Limited. The acquisition is undertaken on an arm’s length basis as per a Valuation Report issued by a SEBI Registered Valuer.