The Company has received a Letter of Offer from Saffron Capital Advisors Private Limited ("Manager to the Open Offer") in relation to the Open Offer to the public shareholders of the Company.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Cupid Breweries and Distilleries Ltd has received a Letter of Offer from Saffron Capital Advisors Private Limited (Manager to the Open Offer) for an open offer to its public shareholders. The offer is being made by Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily (Acquirers) along with Erramilli Rishab (PAC) under SEBI Takeover Regulations. The offer price is ₹71.80 per equity share, which includes ₹11.80 as 10% per annum interest for a 717-day delay. Up to 9,60,000 equity shares (representing 100% of the pre-preferential public shareholding or 1.85% of the existing voting capital) are being offered, aggregating to a maximum of ₹6.89 crore. The tendering period runs from October 27, 2025 to November 10, 2025. The trigger is a substantial preferential issue of over 5.21 crore equity shares and 48 lakh convertible warrants to the Acquirers and others.
Public shareholders can sell their shares at ₹71.80 per share until November 10, 2025. The open offer is very small since public shareholding is only 1.85% of voting capital following recent preferential allotments. The change in control through preferential issue means existing small public shareholders have a limited window to exit at the offered price.