In terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions, we wish to inform you that Board of Directors in ....
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Asgard Alcobev (formerly a paper company) has completed its 78.90% acquisition of CMJ Breweries Private Limited, the largest brewery in Northeast India, through a share swap valued at Rs. 2,190.44 Lacs. To discharge the swap consideration, the board allotted 15,10,64,917 equity shares at Rs. 1.45 each to the selling shareholders of CMJ Breweries. Additionally, the board approved two more preferential allotments to non-promoter public category: 3,90,10,000 equity shares for cash (raising Rs. 5.66 Cr) and 2,20,00,000 convertible warrants at Rs. 1.45 each. The acquirers (the Jain family and K K Impex) along with persons acting in concert triggered an open offer on December 17, 2025, and upon completion will be reclassified as the new promoters of the company, replacing the existing promoter group.
This is a major business transformation — the company is shifting from paper to alcoholic beverages with a sizeable operating asset (CMJ Breweries posted Rs. 252 Cr standalone turnover in FY25). Existing shareholders face significant equity dilution from the new share issuances, a change in promoter control, and an impending open offer. Short-term stock price reaction may be volatile as the market digests the new business profile and change of management.