Cupid Ltd

Baazar Style warrant conversion

• Target: Baazar Style Retail Limited, a retail company.
• Size: not disclosed.
• Related party: not disclosed.
• Sector: Retail.
• Purpose: warrant-to-equity conversion; no further rationale disclosed.
• Regulatory approvals: not disclosed.
• Timeline: conversion completed as of Oct 15, 2026.
• Consideration: 3,000,000 equity shares issued at ₹328.25 per share.
• Total consideration: ₹98.48 crore.
• Shares acquired: 3,000,000; percentage not disclosed.
• Background: Baazar Style Retail Limited, retail company; incorporation and turnover not disclosed.

Transaction details

• Target Company: Cupid Limited.
• Disclosing Party: Aditya Kumar Halwasiya (Promoter Group).
• Transaction Type: Acquisition of 590,304 equity shares in open market.
• Pre-holdings: Aditya Halwasiya 466,135,031 shares (34.67%).
• Pre-holdings: Other Promoter/Promoter Group 174,199,250 shares (12.95%).
• Total pre-holding: 640,334,281 shares (47.62%).
• Post-holdings: Aditya Halwasiya 466,725,335 shares (34.71%).
• Post-holdings: Other Promoter/Promoter Group 174,199,250 shares (12.95%).
• Total post-holding: 640,924,585 shares (47.66%).
• Date of transaction: Monday, September 28, 2026.
• Mode: Open Market.
• Equity capital before: Rs 134,46,60,700.
• Equity capital after: Rs 134,46,60,700.
• Total diluted capital after: Rs 134,70,00,000.

Cupid Limited — Trading Window closure from October 01, 2026 until 48 hours after the declaration of un-audited financial results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026.

Promoter shareholding disclosure

• Open market acquisition of 5,90,304 Cupid Limited shares by promoter Aditya Kumar Halwasiya.
• Date of acquisition: Monday, 28 September 2026.
• Pre-acquisition: Aditya Halwasiya 466,135,031 shares (34.67%).
• Post-acquisition holding: 466,725,335 shares (34.71%).
• Promoter group pre-holding: 640,334,281 shares (47.62%).
• Promoter group post-holding: 640,924,585 shares (47.66%).
• Total diluted promoter voting capital after: 47.58%.
• Equity share capital unchanged at 134,46,60,700 shares.
• Total diluted voting capital after: 134,70,00,000 shares.
• Mode: Open Market.

Target background

• Baazar Style Retail Limited, fashion retail company operating in India.
• Incorporated on 3 June 2013.
• Turnover (2025-26): ₹184,086.90 Lacs.
• Net worth (31 Mar 2026): ₹45,017.39 Lacs.

Deal mechanics

• Up to 30,00,000 warrants to be converted into equity.
• Equity shares issued on conversion: up to 3,000,000.
• Total outstanding warrants: 86,00,000.
• Cash consideration: approx ₹73.86 Crores.
• Not a related party transaction; promoter group has no interest.
• Price per equity share: ₹328.25.

Regulatory & timing

• Regulatory approvals: Not Applicable.
• Timing: per SEBI ICDR Regulations, 2018.

Strategic rationale

• Strategic investment to strengthen Cupid's retail presence and consumer reach.
• Baazar Style's network of over 283 stores to scale Cupid's FMCG portfolio.
• Store network expected to exceed 500 locations within 3 years.

Open market share acquisition by promoter

• Promoter Aditya Kumar Halwasiya acquired 162,938 Cupid Limited shares in open market.
• Pre-acquisition holding of Aditya was 465,972,093 shares (34.65% VR).
• Post-acquisition holding of Aditya is 466,135,031 shares (34.67% VR).
• Total promoter group holdings rise to 640,334,281 shares (47.62% VR).
• Promoter group includes Columbia Petro Chem Private Limited with 174,199,250 shares (12.93%).
• Mode of acquisition: Open Market; date: 25 September 2026.
• Total equity share capital before/after remains Rs 134,46,60,700.
• Total diluted share/voting capital after acquisition: Rs 134,70,00,000.
• Acquisition increases Aditya's voting rights from 34.65% to 34.67%.

Key details

• Target Company is Cupid Limited.
• Disclosing Party is Aditya Kumar Halwasiya, promoter group.
• Transaction Type: Acquisition of 162,938 equity shares via Open Market.
• Pre-Transaction Holding: Aditya 465,972,093 shares (34.65% voting; 47.60% diluted).
• Transaction Details: 162,938 shares acquired (0.01%), Open Market on 25 Sep 2026.
• Post-Transaction Holding: Aditya 466,135,031 shares (34.67% voting; 34.61% diluted).
• Date(s) of Transaction: 25 September 2026.
• Share Capital Context: Before/after equity capital 134,46,60,700; diluted after 134,70,00,000.

Transaction details

• Target: Cupid Limited.
• Disclosing party: Aditya Kumar Halwasiya (Promoter Group).
• Transaction type: Acquisition of 2,200,000 equity shares.
• Date of transaction: 24 September 2026.
• Mode: Open Market.
• Pre-transaction holding: 463,772,093 shares (34.49%).
• Post-transaction holding: 465,972,093 shares (34.65%).

Promoter holdings context

• Total promoter/Promoter Group pre-holding: 637,971,343 shares (47.44%).
• Total promoter/Promoter Group post-holding: 640,171,343 shares (47.60%).
• Promoter Group: Columbia Petro Chem Private Limited held 174,199,250 shares (12.95% pre, 12.93% post).

Capital context

• Equity share capital before: Rs 134,46,60,700.
• Equity share capital after: Rs 134,46,60,700.
• Total diluted share capital after: Rs 134,70,00,000.

Promoter acquisition details

• Acquirer: Aditya Kumar Halwasiya; 2,200,000 shares acquired in open market on 24-Sep-2026.
• Pre-holdings: 34.49%; post-holdings: 34.65%.
• Promoter group total holding after: 47.60%.
• Total diluted voting capital after: 134.70 million shares; promoter group 47.52%.
• Mode: Open Market; price not disclosed.
• Before: 637,971,343; after: 640,171,343 voting shares.