Cupid Ltd to Invest Rs. 331 Crores in Baazar Style Retail Ltd; Expanding FMCG Product Portfolio and Consumer Reach

Cupid Limited has informed BSE about the outcome of its Board Meeting held on 21st January, 2026. The Board approved a strategic investment in Preferential Warrants Convertible in to Equity Shares of Baazar Style Retail Limited, a company listed on BSE Limited and National Stock Exchange of India, amounting to Rs. 331,53,25,000 (Rupees Three Hundred and Thirty-one Crores Fifty-Three Lakhs and Twenty-five Thousand only). This investment will provide Cupid's FMCG product portfolio with a strong platform to scale across key regional markets, with the store network expected to expand to over 500 locations within the next 3 years. The preferential warrants will be converted into equity shares within the timelines as per ICDR regulations, 2018, with 25% of the issue amount paid at the time of allotment and the balance 75% at the time of exercise of the right of conversion.