Banganga Paper Industries Ltd. Acquires 78.90% Stake in CMJ Breweries Private Limited for Rs. 2190.44 Lacs

Banganga Paper Industries Ltd., now known as Asgard Alcobev Limited, has acquired a 78.90% stake in CMJ Breweries Private Limited. The transaction was completed through a share swap, with the company issuing and allotting up to 15,10,64,917 equity shares of Re. 1/- each at an issue price of Rs. 1.45/- per share, amounting to Rs. 2190.44 Lacs. CMJ Breweries is a leading business group based in Meghalaya, with a strong presence in the alcoholic beverages industry and a modern, high-capacity brewing facility. The acquisition is strategically aimed at diversification and long-term value creation, providing benefits such as business diversification, improved risk management, and entry into a sector with steady demand and long-term growth potential.