Brewery stock BCL Industries, on Thursday, announced that the board has approved the sale of the company’s land Hazi Ratan Link Road in Bathinda and the acquisition of a 25% stake in Svaksha Distillery Limited.
On Thursday, brewery stock was trading marginally up at ₹32.50 on NSE. The stock has been under pressure lately as it has descended by over 18.10% in the last month and 22% in six months.
However, the stock more than doubled its investors’ wealth by giving multibagger returns of 350% in the last five years.
BCL Industries business update
In an exchange filing, BCL Industries said that the board has approved the following –
i) Sale of Company’s land situated at Hazi Ratan Link Road, Bathinda and authorized Mr. Rajinder Mittal, Managing Director to find suitable buyer, negotiate the sale price, execute necessary applications, forms, deeds, agreements, letter of undertakings (LUT), authorization and other documents with respect to the proposed sale of land.
ii) Acquiring additional 25% stake in M/s. Svaksha Distillery Limited, subsidiary of the company, in one or more tranches, thereby making it a 100% subsidiary of BCL Industries Limited.
According to the exchange filing, this strategic acquisition will enable the company to further consolidate its control over Svaksha Distillery Limited and this move is expected to significantly strengthen BCL’s position as a leader in the grain-based ethanol sector in India.
Post-acquisition, Svaksha Distillery Limited will become a wholly owned subsidiary of BCL Industries Ltd. The company will acquire 14,98,632 equity shares at ₹367 per share, aggregating to the total investment outlay of around ₹55 crore.
“Acquisition of 14,98,632 equity shares of Svaksha Distillery Limited aggregating to 25% of share capital and the total Shareholding increased to 100% of share capital of Svaksha,” the company said in the filing.
The company further informed that the acquisition is likely to be completed on or before June 30, 2026.