Newspaper Publication pertaining to Corrigendum to the Draft Letter of Offer dated February 24, 2025.
Price
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Awaiting price reaction for this filing.
Cupid Breweries and Distilleries Ltd submitted newspaper publications of a corrigendum to its Draft Letter of Offer dated February 24, 2025, published on September 23, 2025 in Financial Express, Jansatta, and Navshakti. The corrigendum revises the open offer price to ₹71.40 per equity share (up from ₹60), which includes interest of ₹11.40 per share at 10% per annum calculated for a 693-day delay period from December 8, 2023 to October 31, 2025. The total revised offer consideration stands at ₹6.85 crore for the acquisition of 9,60,000 equity shares. The acquirers (Erramilli Venkatachalam Prasad, Rodrigues Bhagvandas Lily) and the PAC (Erramilli Rishab) are revising the price because of the delay in making the open offer.
Public shareholders of Cupid Breweries stand to receive a higher price of ₹71.40 per share instead of ₹60, but the offer is still conditional. The price revision reflects regulatory interest penalties for delay and does not indicate a change in the fundamental acquisition terms.