Appointment of Mr. Sajid Bijnori (DIN: 02666906) and Mr. Ajay Gandeja (DIN: 08663702) as an Additional Independent Directors of the Company w.e.f. June 18, 2025.
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The Board of Cupid Breweries and Distilleries, at its meeting on June 18, 2025, noted the casual vacancy created by the expiry of the term of Independent Directors Mr. Sajid Bijnori and Mr. Ajay Gandeja (effective June 6, 2025), and reappointed both as Additional Independent Directors on the same day, subject to shareholder approval via postal ballot. The Board also approved a new business plan to manufacture alcoholic beverages (Alcobev) by obtaining necessary licenses and engaging contract bottlers. As part of this plan, the company will acquire the assets of Martin Judds Microbreweries Private Limited, in which it already holds a 10% equity stake.
This is largely a routine board reconstitution with no change in personnel — the same directors are being reappointed. However, the asset acquisition and entry into Alcobev manufacturing signal a strategic pivot towards the alcoholic beverages business, which could be material for shareholders if executed successfully.