The Company has received a copy of offer opening public announcement from Saffron Capital Advisors Private Limited ("Manager to the Open Offer") in relation to the open offer to the public ....
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Cupid Breweries and Distilleries Ltd has announced the opening of a mandatory open offer by acquirers Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily (along with PAC Erramilli Rishab), managed by Saffron Capital Advisors. The offer is for up to 9,60,000 equity shares (representing 100% of pre-preferential public shareholding or 1.85% of total voting capital) at a price of ₹71.80 per share, inclusive of ₹11.80 interest for delayed open offer. Total deal value is approximately ₹6.89 crore. The open offer was triggered under SEBI Takeover Regulations following a massive preferential allotment of over 5.10 crore shares to the acquirers, which drastically reduced public shareholding to just 1.85%. The Committee of Independent Directors has recommended the offer as fair and reasonable.
Public shareholders can tender their shares at ₹71.80 each during the tendering period (closing November 10, 2025). The small offer size (only 1.85% of voting capital) and relatively low total value suggest this is largely a regulatory formality following the change in control rather than a meaningful exit opportunity for retail investors.