The Board of Directors of the Company in the Board Meeting held on March 02, 2026 has considered and approved the transactions as mentioned in the attached outcome.
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The board approved allotment of 3,87,08,920 equity shares at ₹90 each (₹10 face value + ₹80 premium) to shareholders of Rinpoche Spirits Private Limited (RSPL) and 6,51,387 equity shares at ₹90 each to shareholders of Crochet Industries Private Limited, both via share swap (no cash outflow). The company is acquiring 100% stake in RSPL, an IMFL (Indian-made foreign liquor) manufacturer with facilities in Odisha; RSPL reported ₹34.9 lakh revenue but nil turnover in the last three years. The board also signed an MOU to purchase a large running alcobev production unit in Odisha, with terms to be shared later. Additionally, branch offices will be opened in West Bengal, Odisha, Sikkim, Goa, and Karnataka to expand operations and manage excise licences.
Shareholders will face dilution of roughly 3.94 crore new shares issued via swap, though no cash is leaving the company. The acquisitions strengthen the company's alcobev manufacturing presence in Odisha and signal aggressive expansion, but RSPL's negligible revenue history means near-term financial contribution may be limited.