Asgard Alcobev Share Price in Focus; Acquires 78.9% of CMJ Breweries to Expand Northeast Footprint

Asgard Alcobev Limited (Formerly known as Banganga Paper Industries Limited) has completed the acquisition of 78.90% equity in CMJ Breweries Private Limited through a share swap, alongside preferential allotments of equity shares and warrants. 

Acquisition Details 

The company acquired 10,95,22,067 equity shares of CMJ Breweries, a leading Northeast Indian brewery, for ₹2190.44 lakhs via a share swap.  

Asgard Alcobev issued 15,10,64,917 equity shares at ₹1.45 per share to CMJ Breweries shareholders, marking strategic diversification into the alcoholic beverages sector. 

Preferential Allotments 

The Board approved: 

• Allotment of 3,90,10,000 equity shares at ₹1.45 each for cash consideration of ₹565.65 lakhs to non-promoter public shareholders.
• Issuance of 2,20,00,000 convertible warrants at ₹1.45 each for cash consideration of ₹83.25 lakhs (25% upfront) to non-promoter public shareholders.

Strategic Rationale 

The CMJ Breweries acquisition enables Asgard Alcobev's entry into the high-growth alcoholic beverages market, enhancing diversification and risk management. The preferential issues strengthen the company's capital base, supporting expansion and operational scalability. 

Regulatory Compliance 

The transactions comply with SEBI regulations and the Companies Act, 2013. No governmental approvals were required for the acquisition. Post-open offer completion, the acquirers and persons acting in concert will be reclassified as promoters. 

Read More: Adani Enterprises Share Price in Focus as its Arm Adani Road Transport Acquires 49% Stake in Sree Vishwa Varadhi! 

Banganga Paper Industries Share Price Performance  

As of February 19, 2026, at 9:27 AM, Banganga Paper Industries share price on BSE was trading at ₹54.75 up by 2.80% from the previous closing price.  

Conclusion 

Asgard Alcobev's acquisition of CMJ Breweries and subsequent share allotments position the company for growth in the alcobev sector, leveraging strategic diversification and strengthened financial resources. 

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