Cupid Limited has informed the Exchange regarding a press release dated April 02, 2026, titled "Cupid Limited Deploys Rs. 82.88 crore as Strategic Investment into Baazar Style Retail Limited".
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Cupid Limited has deployed Rs. 82.88 crore as the first tranche (25%) of its planned Rs. 331.53 crore investment in Baazar Style Retail Limited (Style Baazar). In exchange, Cupid received 1.01 crore warrants convertible into equity shares. This investment gives Cupid direct access to Style Baazar's 260+ retail stores for its FMCG products including condoms, lubricants, deodorants, and personal care items. Style Baazar plans to expand to over 500 stores in the next 2-3 years. The company expects to generate incremental annual revenue of Rs. 500 crore within three years as the partnership scales across geographies.
This investment is positive for Cupid as it significantly strengthens distribution reach for its FMCG portfolio through a rapidly expanding retail network, potentially driving substantial revenue growth in coming years.