Summary of Proceeding of the Extra-Ordinary General Meeting of Cupid Breweries and Distilleries Limited held on January 27, 2026 at 12:00 noon through Video Conference ("VC") and Other ....
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Cupid Breweries and Distilleries held an Extra-Ordinary General Meeting on January 27, 2026 via Video Conferencing, which concluded in about 32 minutes. Seven resolutions were transacted, including an increase in authorised share capital from Rs. 63 crore to Rs. 111 crore. Two special resolutions approved issuing equity shares on a preferential, non-cash basis by swapping shares with Rinpoche Spirits Private Limited and Crochet Industries Private Limited, indicating potential acquisitions. The EGM also approved raising funds through External Commercial Borrowings (ECB), continuation of unsecured loans from directors, alteration of Articles of Association, and working capital credit facilities of up to Rs. 900 crore from UCO Bank and other banks. E-voting results are pending and will be announced later.
Shareholders should watch for the e-voting results and any dilution from the share-swap issuances, as these could materially expand the company's business scope and capital base. The Rs. 900 crore working capital line and ECB approval signal significant growth or acquisition plans ahead.