Saffron Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Cupid Breweries And Distilleries Ltd ("Target Company").
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Saffron Capital Advisors, the Manager to the Offer, has submitted the Letter of Offer to BSE for an open offer to public shareholders of Cupid Breweries and Distilleries Ltd (formerly Cupid Trades and Finance Ltd). The offer is by Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily (Acquirers) along with Erramilli Rishab (Person Acting in Concert), triggered under SEBI Takeover Regulations due to a preferential allotment of over 5.1 crore shares to the Acquirers. The offer is for up to 9,60,000 equity shares (the entire pre-preferential public shareholding, equating to 1.85% of existing voting capital) at ₹71.80 per share, which includes ₹11.80 in delayed interest at 10% per annum for 717 days. The total deal value is approximately ₹6.89 crore, with the tendering period running from October 27, 2025 to November 10, 2025.
Public shareholders holding shares as of the identified date (October 9, 2025) can tender their shares at ₹71.80 each until November 10, 2025. The offer size is small since only 1.85% of voting capital is held by the public, so liquidity and exit opportunity for retail shareholders is limited. Existing shareholders should compare the offer price to the current market price before deciding to tender.