Asgard Alcobev Completes 78.90% Stake Acquisition in CMJ Breweries for Rs. 32,938.60 Lacs

Asgard Alcobev Limited, formerly known as Banganga Paper Industries Limited, has successfully completed the acquisition of 78.90% equity share capital of CMJ Breweries Private Limited. The transaction was executed through a share swap agreement, as per the SEBI regulations. CMJ Breweries, a Meghalaya-based company, operates in the alcoholic beverages industry and is recognized as the largest brewery in Northeast India. The acquisition aligns with Asgard Alcobev's strategy of diversification and sustainable value creation, strengthening its position in a high-demand, scalable industry with long-term growth potential.