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Awaiting price reaction for this filing.
Shareholders of Banganaga Paper Industries Limited (formerly Inertia Steel Limited) approved an amendment to the company's Memorandum of Association at an Extra Ordinary General Meeting held on January 14, 2026. The new objects allow the company to manufacture, distil, brew, bottle, blend, and trade alcoholic and non-alcoholic beverages including spirits, wines, beers, ciders, cocktails, and energy drinks, as well as set up breweries, distilleries, bottling plants, bars, lounges, tasting rooms, and e-commerce platforms. The change is subject to approval from the Registrar of Companies. The BSE source lists the company as 'Asgard Alcobev Ltd', suggesting a likely rebranding from its paper and steel origins into the alcoholic beverages space.
This is a major strategic pivot from paper/steel into the highly regulated but potentially lucrative alcoholic beverages and hospitality sector. Shareholders should monitor for further announcements on the new company name, capital raise plans, and execution milestones, as the liquor business carries both significant regulatory hurdles and growth opportunities in India.