Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved acquiring a 78.90% stake in CMJ Breweries Private Limited, the largest brewery in Northeast India with FY25 turnover of Rs. 252 crores, for a total consideration of Rs. 21.90 crores through a share swap. To fund and facilitate the deal, the company will issue up to 15.10 crore equity shares at Rs. 1.45 each to CMJ Breweries shareholders, plus up to 6 crore shares and 2.20 crore convertible warrants to non-promoters on a preferential basis, raising about Rs. 12 crores in cash. The company is exiting its legacy paper business by selling subsidiary Banganga Paper Mills for Rs. 11.22 crores, changing its name to Asgard Alcobev Limited, and shifting its registered office from Nashik, Maharashtra to Shillong, Meghalaya. An EOGM is scheduled for January 14, 2026 to seek shareholder approvals.
This is a major strategic pivot from paper to alcoholic beverages. Shareholders face significant equity dilution (the preferential share plus warrant issues could expand the share base substantially), but gain entry into a larger, fast-growing sector. The stock may see volatility around the EOGM as investors weigh the diversification benefits of CMJ Breweries' strong revenue base against the dilution and the risks of a complete business model change.