Saffron Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Corrigendum to the Public Announcement, Detailed Public Statement and Draft Letter of Offer ("Second ....
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Saffron Capital Advisors, the manager to the open offer, has filed a corrigendum revising the offer price for Cupid Breweries and Distilleries to ₹71.80 per equity share (up from ₹60), adding an interest component of ₹11.80 per share at 10% per annum for 717 days of delay in making the public announcement. The open offer covers up to 9,60,000 equity shares (representing 100% of the 1.85% public shareholding) for a total consideration of ₹6.89 crore. Acquirers Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily, along with PAC Erramilli Rishab, are making the offer under SEBI SAST Regulations following triggering events on December 8, 2023 and February 7, 2025. The corrigendum was published on October 13, 2025 in Financial Express, Jansatta, and Navshakti newspapers.
Public shareholders of Cupid Breweries will now receive ₹11.80 more per share than the original ₹60 offer price, compensating for the delay in announcement. The tendering timeline and other terms remain unchanged from the original open offer.