Notice of Extra- Ordinary General Meeting of the Company scheduled to be held on Monday, October 27, 2025 through VC/OAVM.
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Cupid Breweries and Distilleries Ltd (formerly Cupid Trades and Finance Ltd) has called an EGM on October 27, 2025 at 12:00 noon via video conferencing. Two special resolutions are on the agenda: (1) alteration of the Articles of Association to broaden the company's powers to issue equity shares, preference shares, warrants, FCCBs, ADRs, GDRs, debentures and other securities through public issue, rights issue, bonus issue, preferential allotment, private placement, QIP, and as consideration for acquisitions or against loans; and (2) approval to raise up to Rs. 450 crore through a Qualified Institutions Placement (QIP) and/or Foreign Currency Convertible Bonds (FCCB), in one or more tranches. The e-voting window is October 24-26, 2025, with a cut-off date of October 20, 2025. Equity shares have a face value of Rs. 10.
If approved, the company will have a clear legal framework to raise up to Rs. 450 crore from institutional and foreign investors, which could lead to equity dilution for existing shareholders. The wide-ranging alteration of Articles also signals management's intent to pursue significant capital-raising or acquisition activity, which may be positive if the funds are deployed for growth but could weigh on the stock due to potential dilution.