Outcome of Board Meeting to consider and approve amendment in Article of Association, enabling Resolution for fund raising, notice of EGM to be held on October 27, 2025 and other ancillary ....
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At a board meeting held on October 4, 2025, the directors of Cupid Breweries and Distilleries approved three key items. First, they amended the Articles of Association to allow the company to issue a wide range of securities including equity shares, debentures, warrants, preference shares, and Foreign Currency Convertible Bonds (FCCBs) through Qualified Institutions Placement (QIP) or other permitted routes. Second, they passed an enabling resolution to raise up to Rs. 450 Crores in one or more tranches through instruments like QIP, FCCBs, private placement, or preferential allotment, subject to shareholder approval. Third, they called an Extra-Ordinary General Meeting (EGM) for October 27, 2025 to seek shareholder consent. Pricing of any future issue will follow SEBI ICDR Regulations, and the company clarified there will be no change in control.
This is only a preparatory, enabling step — no fundraising has actually been launched yet. Shareholders should note the potential for significant equity dilution if QIP or other equity-linked instruments are eventually issued, and they should monitor the October 27 EGM outcome and any subsequent announcements on pricing and allotment.