Cupid Breweries Allots 3,87,08,920 Equity Shares to Rinpoche Spirits Shareholders in Share Swap Deal

Cupid Breweries And Distilleries Ltd has allotted 3,87,08,920 equity shares to the shareholders of Rinpoche Spirits Private Limited and 6,51,387 equity shares to the shareholders of Crochet Industries Private Limited. The allotment is pursuant to a share swap deal as per the SEBI regulations. The company has also acquired 100% stake in Rinpoche Spirits Private Limited and is planning to purchase a large alcoholic beverage production capacity unit in Odisha. The company is also opening branch offices in various states to expand business operations.