Asgard Alcobev Share Price in Focus; Appoints Ronak Jain as Managing Director

As per The PTI report, Asgard Alcobev Ltd (Formerly known as Banganga Paper Industries Limited) has recently announced the appointment of Ronak Jain as its new Managing Director.  

With significant experience in the liquor and beer sectors, Jain is tasked with steering the company's strategic initiatives and aiming for sustainable growth. 

Ronak Jain's Role and Experience 

Ronak Jain, appointed as the Managing Director of Asgard Alcobev, brings over 15 years of rich experience in the liquor and beer industry.  

His leadership will focus on optimising the company's strategic realignment. This new role is expected to provide innovative directions as the company expands its footprint in the alcoholic beverages industry. 

Strategic Appointments and Company Goals 

Alongside Jain, Asgard Alcobev announced the appointments of Priyanka Jain as Additional Director (Non-Executive) and Binit Singhania as Chief Financial Officer (CFO) and Finance Director.  

These appointments underscore the company's commitment to realign its strategic goals after transitioning from its previous paper manufacturing operations. 

Transition to Alcoholic Beverages Sector 

Asgard Alcobev, earlier known as Banganga Paper Industries Ltd, has shifted its focus to the alcoholic beverages sector. This transition was marked by the recent acquisition of a majority stake in CMJ Breweries, located in Northeast India.  

This acquisition reflects the company's commitment to diversify and strengthen its position in the alcoholic market. 

Read More: JP Morgan Appoints Rahul Badhwar as India Country Officer to Drive Growth Strategy!  

Banganga Paper Industries Share Price Performance  

As of March 25, 2026, at 3:30 PM, Banganga Paper Industries share price on BSE was closed at ₹53.85 down by 0.66% from the previous closing price. 

Conclusion 

The appointment of Ronak Jain as Managing Director signals Asgard Alcobev's dedication to enhancing leadership to drive growth within the alcohol beverage industry. With a focus on strategic leadership and industry expertise, the company aims to cement its presence following its pivot from paper manufacturing. 

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