Acquisition of Solkit Distillery & Brewery Private Limited
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Agribio Spirits Ltd has acquired 100% of Solkit Distillery & Brewery Private Limited (SDBPL) through a Share Purchase Agreement for a cash consideration of Rs. 13 crore. The deal covers 5,00,000 equity shares, though 1.08% is nominally held by two promoters (Mrs. Puja Bajoria and Mr. Ashutosh Bajoria) to meet the Companies Act's minimum two-shareholder requirement for private firms. SDBPL, based in Udaipur, Rajasthan, operates a liquor bottling business (country liquor, Rajasthan Made Liquor, and India Made Foreign Liquor) on a franchise basis with capacity of around 1,45,000 cases. Its turnover was Rs. 2.58 crore in FY25, Rs. 3.04 crore in FY24, and Rs. 2.17 crore in FY23. The acquisition is not a related-party transaction, and SDBPL will now operate as a subsidiary of Agribio Spirits.
This acquisition marks Agribio Spirits' strategic entry into the liquor manufacturing and bottling business, complementing its name and stated objects. For shareholders, it signals a diversification move into alcoholic beverages, though the acquired entity's turnover is small relative to the Rs. 13 crore purchase price, which may raise valuation questions in the near term.