Cupid Breweries Announces Preferential Allotment, Acquisition, and MoU for Alcobev Unit Purchase

Cupid Breweries and Distilleries Ltd has announced the allotment of equity shares to the shareholders of Rinpoche Spirits Private Limited and Crochet Industries Private Limited on a preferential basis for consideration other than cash. The company also announced the acquisition of 100% stake in Rinpoche Spirits Private Limited and the execution of a Memorandum of Understanding for the purchase of a large/substantial Production capacity running Alcobev unit in the State of Odisha. The company's board meeting also discussed the opening of branch offices in various states within India.