Cupid Limited Invests ₹ 82.88 Crore in Baazar Style Retail Limited
Mumbai, 2nd April, 2026: Cupid Limited (BSE: 530843 | NSE: CUPID) has deployed ₹ 82.88 crore as part of its planned investment of ₹ 331.53 crore in Baazar Style Retail Limited (Style Baazar).This investment secures Cupid Limited 1,01,00,000 warrants, convertible into equity shares of Style Baazar.
The partnership aims to leverage Style Baazar's retail network of 260+ stores, strengthening market access, shelf visibility, and last-mile reach for Cupid Limited's FMCG product portfolio. The collaboration will enable immediate product availability across Style Baazar stores, enhancing in-store presence and consumer engagement.
Style Baazar plans to expand to over 500 stores in the next two to three years, which is expected to further scale the opportunity and increase consumer touchpoints and brand visibility for Cupid Limited. Cupid Limited anticipates generating incremental annual revenue of ₹ 500 crore within the next three years.
"This development strengthens our retail presence and significantly enhances our FMCG distribution reach across key markets," said Aditya Kumar Halwasiya, Chairman & Managing Director of Cupid Limited.
Mr. Shreyans Surana, Managing Director, of Baazar Style Retail Limited added, "Their strong FMCG portfolio and execution capabilities continue to complement our retail platform, enabling better product availability and customer experience."
Established in 1993, Cupid Limited is India's premier manufacturer of male and female condoms, personal lubricants, IVD kits, deodorants, perfumes, almond hair oil, body oils, and other FMCG products. The company exports to over 125 countries and holds WHO/UNFPA pre-qualification for both male and female condoms.
In March 2024, Cupid completed a land acquisition in Palava, Maharashtra, to increase production capacity by 1.5 times.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.