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Asgard Alcobev Limited has completed the acquisition of a 78.90% stake in CMJ Breweries Private Limited (CMJBPL), the largest brewery in Northeast India, through a share swap worth ₹2,190.44 Lakhs. To fund this, the company allotted 15.10 crore equity shares at ₹1.45 each to the selling shareholders of CMJBPL as consideration other than cash. Additionally, 3.90 crore equity shares were issued for cash (₹5.65 crore total) and 2.20 crore convertible warrants were issued to non-promoter public category. CMJBPL reported a standalone turnover of ₹25,200.19 Lakhs in FY25, and the acquisition is aimed at diversifying the company's business into the alcoholic beverages sector.
This is a transformative acquisition that shifts the company's business focus into the beer/alcoholic beverages industry, potentially boosting revenue scale significantly. The change of promoter group — with CMJBPL sellers becoming new promoters and existing promoters reclassified as public — could lead to increased volatility and open offer-driven price action in the stock.