Cupid Limited is hereby informing NSE about monitoring agency report for quarter ended 30th June, 2025.
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Awaiting price reaction for this filing.
Cupid Limited has submitted the CRISIL Ratings monitoring report on its Rs 385.22 crore preferential issue of convertible warrants (allotted in March 2024) for the quarter ended June 30, 2025. Out of the total issue size, Rs 96.30 crore has already been received and fully utilized — Rs 57.78 crore for working capital, Rs 19.83 crore for capacity enhancement, and Rs 18.69 crore for general corporate purposes. The remaining Rs 288.92 crore is still pending and will come in only when warrant holders exercise their warrants, which must happen by September 13, 2025. No deviation from the originally disclosed objects has been reported. Major objects like strategic foreign acquisitions/JVs (Rs 245 crore) and new foreign subsidiaries (Rs 8.82 crore) have not seen any utilization yet because the related funds have not been received.
This is a routine compliance filing with no negative flags — utilization of received funds is on track and matches disclosed purposes. Investors should watch the September 13, 2025 warrant exercise deadline, as conversion of the remaining Rs 288.92 crore of warrants is the key trigger for funding the company's foreign acquisition and expansion plans.