Newspaper publication for Post Offer advertisement in relation to the Open offer to the public shareholders of the Company published on November 24, 2025.
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Cupid Breweries and Distilleries Ltd submitted copies of newspaper publications for the Post Offer Advertisement related to the open offer made to its public shareholders, published on November 24, 2025 in Financial Express, Jansatta, and Navshakti. The open offer by Acquirers Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily, along with PAC Erramilli Rishab, was for up to 9,60,000 equity shares at ₹71.80 per share (including ₹11.80 interest), aggregating up to ₹6.89 crore. The offer opened on October 27, 2025 and closed on November 10, 2025, with payment made on November 17, 2025. Only 17 equity shares were actually tendered and accepted, worth just ₹1,220.60, indicating extremely poor public participation. Post-offer, the Acquirers and PAC hold 2,60,32,184 shares (50.08%) of the company.
The open offer saw almost no participation from public shareholders, with just 17 shares tendered out of the 9.6 lakh offered. With the Acquirers and PAC now controlling 50.08% of the company, the stock has effectively changed hands to the new promoters. Existing public shareholders who did not tender retain their shares in a company now firmly under new management, and trading liquidity in the stock may remain thin given the very small public float of around 1.85%.