Saffron Capital Advisors Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Corrigendum to the Public Announcement, Detailed Public Statement and Draft Letter of Offer ....
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Saffron Capital Advisors, the manager to the open offer, has submitted a corrigendum to BSE revising the offer price for the ongoing open offer on Cupid Breweries and Distilleries Ltd. The offer is for 9,60,000 equity shares (100% of public shareholding) at a revised price of ₹71.40 per share, which includes ₹11.40 per share as 10% per annum interest for a 693-day delay in making the public announcement. The total revised offer consideration stands at ₹6.85 crore. The original PA was made on February 7, 2025, with the acquirers being Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily, along with PAC Erramilli Rishab. The corrigendum was published on September 23, 2025, in Financial Express, Jansatta, and Navshakti newspapers.
Public shareholders of Cupid Breweries and Distilleries will now receive a higher offer price of ₹71.40 per share (up from the earlier announced price of ₹60) due to the interest component for the delay. This is a positive revision for shareholders who may tender their shares in the open offer.