The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Siva Nageswara Rao Doradla
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Non-promoter individual Siva Nageswara Rao Doradla acquired 36,35,200 equity shares (6.99%) of Cupid Breweries and Distilleries Ltd through a preferential allotment dated April 11, 2025. Prior to this acquisition, he held no shares in the company. After the allotment, his total holding stands at 36,35,200 shares, representing 6.99% of the voting capital. The company's share capital expanded massively — from 9,60,000 shares (₹96 lakh) to 5,19,83,002 shares (₹51.98 crore), indicating a large-scale preferential issue in which this investor participated. The acquirer is not part of the promoter group.
This signals a significant capital infusion into the company through preferential allotment to a non-promoter investor. The acquirer's 6.99% stake places him close to the 10% threshold that triggers open-offer obligations under takeover norms, so any further purchase could attract additional regulatory requirements. Shareholders should note the substantial dilution from the preferential issue.