as per the attached document
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Awaiting price reaction for this filing.
The Board approved a preferential allotment of 16.70 lakh equity shares at Rs. 1.45 per share (a 45% premium over the Rs. 1 face value) to a single non-promoter allottee, raising about Rs. 24.22 lakhs. Separately, the company has sold its 99.96% stake in subsidiary Banganga Paper Mills Limited (BPML) for Rs. 11.22 crores to three related-party buyers (the Dhatrak family), completing the transaction on February 16, 2026. BPML, which had FY25 turnover of Rs. 76.74 crores from paper and pulp manufacturing, has now ceased to be a subsidiary. The divestment was carried out at arm's length with audit committee approval. Overall, this marks a clean exit from the legacy paper business as the company sharpens its focus on the alcobev (alcoholic beverages) segment.
The Rs. 24 lakh equity raise is negligible and causes only minimal dilution. The bigger story is the strategic exit from paper — shareholders should monitor how the Rs. 11.22 crore sale proceeds are redeployed into the alcobev business, and note the related-party nature of the BPML buyer.