Banganga Paper Industries Ltd (BPIL) approved acquiring 78.90% stake in CMJ Breweries Pvt Ltd, buying 10.95 crore shares. The board plans renaming to Asgard Alcobev Ltd. CMJBPL’s Meghalaya plant, with German-European machinery, supports contract manufacturing for Kingfisher, Tuborg & Simba. The Indian beer market may rise from ₹483.10 billion in 2024 to ₹1,241.69 billion by 2034.