Saffron Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post offer advertisement under Regulation 18(12) of the SEBI (SAST) Regulations, 2011, as amended ....
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Saffron Capital Advisors has filed a post-offer advertisement with BSE for an open offer made by Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily (acquirers), along with Erramilli Rishab (PAC), to acquire up to 9,60,000 equity shares (100% of public shareholding at 1.85%) of Cupid Breweries and Distilleries Limited at ₹71.80 per share, aggregating up to ₹6.89 crore. The offer opened on October 27, 2025 and closed on November 10, 2025, with payments made on November 17, 2025. However, only 17 shares were actually tendered by public shareholders, amounting to a mere ₹1,220.60 in consideration. The acquirers already held 50.08% of the company through a preferential allotment dated April 11, 2025, and post-offer their shareholding remains at 50.08%, indicating no change in control.
The open offer drew virtually no public participation—just 17 shares tendered against 9.6 lakh available—showing negligible shareholder interest at the offered price. Since acquirers already held a majority via preferential allotment, the offer is largely a regulatory formality and there is no meaningful change in control or shareholder base.