The Company has received a Post offer advertisement from Saffron capital Advisors Private Limited ("Manager to the open Offer") in relation to the Open Offer to the public shareholders of the Company.
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Cupid Breweries and Distilleries Limited has received a Post Offer Advertisement from Saffron Capital Advisors, the manager to the open offer. The open offer was made by Erramilli Venkatachalam Prasad and Rodrigues Bhagvandas Lily (Acquirers), along with Erramilli Rishab (PAC), to buy up to 9,60,000 fully paid-up equity shares at ₹71.80 per share (including ₹11.80 interest), aggregating up to ₹6.89 crore. The offer opened on October 27, 2025 and closed on November 10, 2025, with payment on November 17, 2025. The actual response was extremely poor — only 17 shares were tendered against the proposed 9,60,000 shares, meaning the offer effectively flopped. The open offer was triggered after the acquirers were allotted 2,60,32,167 equity shares (50.08% of voting capital) through a preferential issue on April 11, 2025, giving them control of the company.
The acquirers already hold 50.08% of the company via preferential allotment, meaning control of Cupid Breweries has effectively changed hands regardless of the open offer response. The poor tendering response (17 shares vs 9.60 lakh offered) suggests very little remaining public float and limited interest from remaining public shareholders. Existing public shareholders now hold roughly 49.92% post-offer, but liquidity is extremely thin.