Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015- ECO RESORT- ALCOBEV BRANDS & PRODUCTS PROMOTIONAL PROJECT - of Material Subsidiary Company - Crochet Industries- Groundbreaking ....
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Cupid Breweries' material subsidiary Crochet Industries Pvt. Ltd. (CIPL) held a groundbreaking ceremony on June 5, 2025 for an 'Eco Resort - Alcobev Brands & Products Promotional Project' in Odisha, graced by the state's Chief Minister. The project is located in the Economic Growth Corridor adjacent to the port area, on land owned by CIPL near Gopalpur Port, with the aim of promoting its own alco-bev brands and capturing export opportunities. CIPL has received in-principle approval through the Special Single Window Clearance Committee and stands to benefit from Odisha State Government industrial promotional schemes and subsidies. This is described as a first-of-its-kind project in the corridor and aligns with CIPL's MOU business objectives.
This signals a new diversification and growth initiative for the company's material subsidiary, potentially boosting long-term revenue through brand promotion and exports, though no financial figures or timelines for the project have been disclosed yet, leaving near-term impact on the stock limited.