The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Cupid Ltd
STYLEBAAZA · price
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Cupid Limited has acquired 10,100,000 warrants of Baazar Style Retail Limited through preferential allotment. Each warrant is convertible into 1 equity share at a 1:1 ratio. Before this acquisition, Cupid Limited held zero shares or warrants in Baazar Style Retail. After acquisition, Cupid holds warrants representing 11.92% of the total diluted share capital of Baazar Style Retail. The acquirer (Cupid Limited) clarified it does not belong to the Promoter/Promoter Group of Baazar Style Retail. The acquisition took place on April 2, 2026. This disclosure is triggered because acquiring warrants (which convert to equity) crosses the 5% threshold requiring SAST regulation disclosure.
A non-promoter entity (Cupid Limited) is acquiring a ~12% stake in Baazar Style Retail through warrant conversion, which could signal strategic interest or alliance. The acquisition is below the 25% open offer trigger but represents a meaningful minority position that may influence future corporate actions or takeovers.