Associated Alcohols & Breweries has purchased 136,33,000 equity shares of Vedant Energy. Further, Vedant Energy has been awarded LOI for setting up of Distillery unit in Madhya Pradesh. The said acquisition will be helpful for consolidation of the company's position in the Industry.
The company’s board considered that in view of the holding of 51% equity shares of Rs 10 each by the company has become holding company and Vedant Energy has become subsidiary of company resulting it is categorized as a public limited company and all the provisions of limited company would be applicable as to the private limited company which is a subsidiary of the public limited company.
Associated Alcohols & Breweries is engaged in the business of bottling vodka and scotch whisky for large reputed international brands. The company is also one of the only liquor companies bottling single malt scotch whisky (Glen Drummond) for the leading liquor group Mason & Summers.
