Chambal Breweries approves merger with Invade Agro
Swap ratio: 5 Invade shares for every 2 Chambal shares. Invade Agro is over 300 times larger by net worth (₹303 cr vs ₹87 lakhs), offering a dramatic upgrade for shareholders.
— 2 earlier stories on Chambal Breweries & Distilleries Ltd. →What's new
- Board approves scheme to merge Chambal into Invade Agro.
- Swap ratio: 5 Invade shares for every 2 Chambal shares held.
- Invade Agro (₹303 cr net worth) absorbs Chambal (₹87 lakh net worth).
Why this matters
This merger turns a dormant shell with zero revenue into a stake in a ₹88 cr turnover entity. For Chambal shareholders, it’s a rare exit into a sizable operational business. If approved, the deal could rewrite the investment case entirely.
What we're watching
- NCLT and creditor approval timelines.
- Whether Invade Agro’s earlier deferral signals further delays.
- Post-merger free float and price discovery in a thin stock.
The full read
Chambal Breweries & Distilleries, a dormant nano-cap with zero revenue and a net worth of just ₹86.68 lakhs, is merging into Invade Agro Ltd, an agro-trading firm with ₹303.43 crore net worth and ₹87.97 crore turnover. The board approved the scheme on June 29. Under the swap, Invade Agro will issue five of its shares for every two Chambal shares. Invade Agro already holds 22.93% of Chambal. The merger, if it wins NCLT and creditor nods, gives Chambal shareholders a stake in an operational business — a dramatic upgrade from a company that posted a net loss of ₹5.91 lakhs in its last two-month period. The deal had hit a procedural snag in late June, but the board's approval clears the first major hurdle.
Questions answered
- What is the swap ratio for the merger?
- Invade Agro will issue 5 equity shares of ₹10 each for every 2 shares of Chambal Breweries.
- Why is Chambal merging into Invade Agro?
- To pool financial and managerial resources. Invade Agro already owns 22.93% of Chambal. The merger gives Chambal shareholders exposure to a far larger operational entity.
- How much larger is Invade Agro than Chambal?
- Invade Agro has net worth of ₹303.43 crore and turnover of ₹87.97 crore. Chambal has net worth of ₹86.68 lakhs and no operating revenue.
- What approvals does the scheme need?
- Approvals from shareholders, creditors, and the NCLT are required.
- When is the appointed date for the merger?
- The appointed date is June 1, 2026.
- Was the merger expected?
- A prior deferral was noted, but the board's June 29 approval makes this the first concrete step. The scheme's details were not previously disclosed.
Chambal Breweries & Distilleries Ltd.
Latest quarter · Mar 2026
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Story so far
All notes on CHMBBRW →- 29 Jun 2026 · 7:42 PM IST Chambal Breweries approves merger with Invade Agro
- 5d ago Chambal Breweries' merger plan hits procedural snag as Invade Agro defers
- 12d ago Chambal Breweries posts ₹5.91 lakh net loss on zero revenue