Cupid Breweries and Distilleries Ltd. Approves Acquisition of Rinpoche Spirits and Crochet Industries for Strategic Advantage and Revenue Enhancement

Cupid Breweries and Distilleries Ltd. held a Board Meeting on January 03, 2026, where they discussed and approved several agenda items. The proposed preferential issue by way of share swap with Rinpoche Spirits Private Limited was nullified due to no further deliberations. However, the acquisition of up to 100% of the share capital of Rinpoche Spirits Private Limited and up to 7,25,000 equity shares of Crochet Industries Private Limited was approved. These acquisitions will provide strategic advantages, including strategically located IMFL manufacturing projects, brewery assets, and enhanced national footprint capacity. The Board also approved the amendment to the Articles of Association of the Company and the extension of the existing unsecured convertible loan agreement with Directors for a period of 12 months.