The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rodrigues Bhagvandas Lily & PACs
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Awaiting price reaction for this filing.
Rodrigues Bhagvandas Lily, along with his son Erramilli Rishab (disclosed as Person Acting in Concert), acquired 1,44,64,959 equity shares (27.83%) of Cupid Breweries and Distilleries Limited through a preferential allotment on April 11, 2025. Before this acquisition, the acquirer held zero shares in the company. The acquirer is not part of the promoter/promoter group. As a result of this preferential issue, the company's total equity share capital expanded massively from 9,60,000 shares (face value ₹10) to 5,19,83,002 shares, meaning existing shareholders were significantly diluted. The filing is being made because the acquirer's holding has crossed the 5% disclosure threshold under SEBI takeover regulations.
This is a major change in the company's ownership structure, with a single non-promoter entity suddenly becoming the largest shareholder at 27.83%. Existing shareholders have been heavily diluted due to the preferential allotment. The stock could see volatility as the market digests this large, concentrated entry by a new shareholder.