Asgard Alcobev Limited has announced major leadership changes following its board meeting held on March 19, 2026, as part of its ongoing transition into the alcoholic beverages business.
The company, formerly known as Banganga Paper Industries Limited, has appointed three senior professionals to strengthen its management team:
- Ronak Jain as Managing Director
- Priyanka Jain as Additional Director
- Binit Singhania as Finance Director & CFO
All appointments are effective from March 19, 2026.
Leadership to Drive Transformation
Ronak Jain, who brings over 15 years of experience in the liquor and beer industry, will lead the company’s next phase of growth. He currently serves as CEO of CMJ Breweries Private Limited and has expertise in strategy, operations, and business expansion. He said his focus will be on building a strong, future-ready organisation and creating long-term value for stakeholders.
Priyanka Jain joins with more than a decade of experience in human resources and organisational development. She will focus on building talent, strengthening company culture, and aligning HR strategy with business goals.
Binit Singhania, a Chartered Accountant with over 15 years of experience, takes charge of finance. His expertise includes accounting, taxation, compliance, and project finance, which will be crucial as the company scales its operations.
Strategic Shift to Alcobev Sector
These appointments highlight Asgard Alcobev’s shift from its legacy paper business to the fast-growing alcoholic beverages sector. The company has already acquired a majority stake in CMJ Breweries, strengthening its presence in Northeast India.
Governance and Compliance
The appointments were made in line with Securities and Exchange Board of India regulations. The company confirmed that all appointees meet compliance requirements, have no conflicts of interest, and are not barred under any regulatory provisions.
Future Outlook
With a renewed leadership team and a clear focus on premiumisation and expansion, Asgard Alcobev aims to establish itself as a strong player in India’s alcobev market. The company plans to leverage its operational, financial, and human resource capabilities to drive sustainable growth in the coming years.
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