News

The Banganga Paper Industries Ltd (BPIL) board of directors has, in a bold strategic move, authorised the purchase of 78.90 per cent of the equity stake of CMJ Breweries Prime Ltd (CMJBPL) at their December 17 meeting. This comprises 10,95,22,067 shares of equity (with the face value of Rs 10 each) with an addition to the authorised share capital of BPIL.

The transaction will make BPIL control the already flourishing beer sector in Northeast India, although the acquisition will be finalized in two months, subject to shareholder and stock exchange.

Discover CMJ Breweries

CMJ Breweries is the biggest brewery in the northeastern parts of the country, based in the beautiful landscapes of Meghalaya, and it deals with the production of premium beer. Its modern and high-capacity plant, driven by the accuracy of the German and European machines, provides unmatched performance and quality, driving developments and innovations in the region.

Being a preferred contract manufacturer, CMJ collaborates with such giants as United Breweries (Kingfisher), Carlsberg India (Tuborg), Mohan Meakin (Asia 72), Yuksom Breweries (He-Man 9000) and Sona Beverages (SIMBA), giving it an edge in the high volume, quality and compliance of the country's booming alcohol market.

The Indian beer market has reached Rs 48,310 crore and is expected to explode with a 9.90 per cent CAGR to reach Rs 1,24,169 crore by 2034.

Open Offer

According to the exchange release, Ronak Jain and associates will make an open offer to take 100 per cent in the shares of BPIL.

Rebranding Ahead

Board suggests the renaming of BPIL to ASGard ALCOBEV Limited, with the approvals, to show its new exciting direction.

New Auditors Onboard

M/s Joint Statutory Auditors: BATLIBOI & PUROHIT have been awarded the status of Joint Statutory Auditors as Chartered Accountants.

Disclaimer: This article is from the Brand Desk. User discretion is advised.