Acquire 2% shares of Empyrean Spirits Pvt Ltd to make it wholly owned subsidiary
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Kati Patang Lifestyle Ltd's board has approved two acquisitions on March 3, 2026, both to be executed through share swaps. First, the company will acquire 100% of Agnetta International Private Limited, a trading firm in premium imported wines and spirits (turnover of Rs. 6.04 crore in FY25), for up to Rs. 3.5 crore by issuing its own shares. Second, it will acquire the remaining 2% stake (38,728 shares) in Empyrean Spirits Private Limited, the maker of the 'Kati Patang' craft beer brand, for Rs. 96.82 lakh, making it a wholly owned subsidiary. ESPL's turnover nearly tripled to Rs. 16.56 crore in FY25 from Rs. 5.63 crore in FY24. Both transactions are not related party deals and are expected to complete in 3-4 months, subject to shareholder approval.
The acquisitions will consolidate the company's presence in the imported wines and craft beer segments, bringing subsidiaries fully under its control. Since the deals are share-swap based with no cash outflow, existing shareholders will face some dilution, but they gain access to growing lifestyle beverage businesses.