Stock Report

Cupid Breweries unveils ambitious expansion: Acquires IMFL Assets, Secures ₹1,800 Cr Funding, Eyes NSE Listing

Posted On : 2026-01-05 10:22:18( TIMEZONE : IST )

Cupid Breweries and Distilleries Limited announced a transformative set of approvals at its board meeting on January 3, 2026, scrapping a prior preliminary preferential issue proposal from November 2025 while greenlighting acquisitions, funding raises, and an NSE listing push-all pending shareholder nod at an Extraordinary General Meeting (EGM) on January 27, 2026.

The board approved acquiring up to 100% of Rinpoche Spirits Private Limited (RSPL) through a preferential issue of up to 3.87 crore equity shares at ₹90 each (₹80 premium), swapping for strategically located IMFL manufacturing in Goa and West Bengal, plus brewery assets in Odisha and West Bengal. This bolsters national footprint, capacity, revenue visibility, and EBITDA scalability.

Separately, the company will acquire up to 7.25 lakh shares of Crochet Industries Private Limited (CIPL) via 5.4 lakh shares at ₹90 each. Share Purchase Agreements and related documents for both deals received the go-ahead.

To fuel growth, approvals cover:

Extending an unsecured convertible loan agreement with directors (Mr. Erramilli Venkatachalam Prasad, Dr. Lily Bhagvandas Rodrigues, Mr. Samavedam Sri Venkata Rajeswara Rao) by 12 months for up to ₹90 crore, usable for working capital, capex, operations, and compliance.

Raising up to ₹900 crore via External Commercial Borrowings (ECB) in one or more tranches over a year.

Securing up to ₹900 crore in working capital loans from UCO Bank (in-principle sanction for ₹120 crore) or other banks/financial institutions for operations, subsidiaries, and contract bottling.

This multifaceted strategy positions Cupid Breweries for scaled operations in the competitive alcohol sector, blending inorganic growth with flexible financing.

Shares of Cupid Breweries and Distilleries Limited was last trading in BSE at Rs. 45.94 as compared to the previous close of Rs. 43.76. The total number of shares traded during the day was 588811 in over 1744 trades.

The stock hit an intraday high of Rs. 45.94 and intraday low of 43.20. The net turnover during the day was Rs. 26922635.00.