Postal Ballot Notice dated May 18, 2026 along with Explanatory Statement is enclosed.
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Cupid Breweries and Distilleries Limited is seeking shareholder approval via postal ballot for two special resolutions. First, the company plans to acquire a distillery unit from United Spirits Limited (USL), a Diageo Group company, situated in Ganjam district, Odisha. The unit spans approximately 6.801 acres of land with buildings, plant, machinery, and associated licenses. The total acquisition cost is INR 22.50 Crores (on as-is-where-is basis). The Board has been authorized to arrange funds through internal accruals, borrowings, or securities issuance. Second, the company seeks approval to confirm the appointment of Mr. Rohit Shetty (a Chartered Accountant with 15+ years of experience in finance, taxation, and audit) as an Independent Director for a term from April 7, 2026 to September 30, 2026. The e-voting period runs from May 30, 2026 to June 28, 2026, with cut-off date May 22, 2026.
The INR 22.50 Cr acquisition represents a significant expansion into alcoholic beverage manufacturing, giving the company instant operational capacity instead of greenfield development. This is a major strategic move that could accelerate growth and market presence. Shareholders should carefully review the terms and financing plans before voting.