Cupid Limited has officially completed the deposit of ₹82.88 crore to acquire equity warrants in Baazar Style Retail Limited, marking a significant strategic investment in the specialty retail sector. The company filed comprehensive regulatory disclosures under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming the acquisition of 1,01,00,000 warrants through preferential allotment on April 2, 2026.

Strategic Investment Framework

The warrant subscription represents 25% of the total subscription amount for a preferential allotment valued at ₹331.53 crore. Each warrant is priced at ₹328.25 and is convertible into one equity share within the timelines specified under SEBI regulations. Upon full conversion, Cupid Limited will hold an 11.92% stake in Baazar Style Retail's diluted share capital.

Target Company Profile

Baazar Style Retail Limited operates in the fashion retail segment with an established network of over 250 stores. The company demonstrates strong financial performance with consistent revenue growth, reporting total income of ₹135,268.87 lacs in 2024-25 compared to ₹98,282.66 lacs in 2023-24, representing a significant year-on-year growth trajectory.

Regulatory Compliance and Share Capital Structure

The acquisition was executed in full compliance with regulatory requirements, with Cupid Limited confirming it does not belong to the promoter or promoter group of Baazar Style Retail. The target company's current equity share capital stands at ₹37.31 crore, divided into 7,46,17,353 equity shares of ₹5 each. Post-conversion of all outstanding warrants, the diluted share capital will increase to ₹42.36 crore comprising 8,47,17,353 equity shares.

Strategic Market Positioning

The investment aligns with Cupid's strategy to strengthen retail presence and expand consumer reach through Baazar Style's established store network. The partnership provides a robust platform for scaling Cupid's FMCG product portfolio across key regional markets, leveraging Baazar Style's specialty retail expertise and distribution capabilities. The transaction was disclosed to BSE Limited and National Stock Exchange of India Limited, ensuring complete regulatory transparency and compliance with listing obligations.

Baazar Style Retail Limited has officially announced the opening of two new Style Baazar stores in Rewa, Madhya Pradesh and Ghazipur, Uttar Pradesh. The company made this disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing both BSE Limited and the National Stock Exchange of India Limited about these latest store launches.

Official Store Opening Details

The retail chain disclosed the new store openings through a formal regulatory announcement signed by Abinash Singh, Chief Compliance Officer, Company Secretary and Head - Legal & Compliance. Both new outlets operate under the Style Baazar brand, continuing the company's expansion strategy in tier-2 and tier-3 cities across India.

Network Growth Achievement

With these additions, Baazar Style Retail Limited's total store count has reached 266, marking continued growth from the previous count of 264 stores. The expansion demonstrates the company's sustained commitment to strengthening its retail footprint across multiple states in India, particularly focusing on emerging markets in Madhya Pradesh and Uttar Pradesh.

Regulatory Compliance Framework

The announcement was made in full compliance with stock exchange disclosure requirements, with the information shared simultaneously with both BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai and the National Stock Exchange of India Limited at Exchange Plaza, Bandra-Kurla Complex, Mumbai. The company maintains its regulatory obligations through proper disclosure of material business developments.

The company continues to operate from its headquarters at PS Srijan Tech Park in Salt Lake, Kolkata, maintaining its strategic focus on retail expansion across diverse geographical markets in India while ensuring complete transparency with stakeholders and regulatory authorities.