Cupid Limited has strengthened its strategic partnership with GII Healthcare Investment Limited through an additional follow-on investment of USD 5 Mn. The investment was funded entirely through internal accruals, signaling management's confidence in the long-term value creation potential of GII's healthcare platform. This move allows Cupid to increase its participation in the growth of the Gulf Cooperation Council (GCC) healthcare sector, which is supported by rising healthcare expenditure, expanding populations, and increased insurance penetration.

The investment follows an initial stake taken by Cupid in GII, a leading investment firm with assets under management exceeding USD 3.5 billion. GII operates across Saudi Arabia, the UAE, Europe, the USA, and India, with a track record of investing in high-quality healthcare assets. Notably, the platform holds a significant equity stake in Abeer Medical Company, one of Saudi Arabia's leading integrated healthcare providers, as well as AlMeswak Dental Company, a prominent dental and derma care chain in the Kingdom.

Strategic Rationale and Market Context

Management views the GCC healthcare sector as presenting compelling long-term growth opportunities, driven by sustained government investment and demographic shifts. By investing at an attractive valuation, Cupid aims to leverage these macroeconomic trends while diversifying its portfolio beyond its core domestic manufacturing business. The key parameters of the investment are summarised below:

Aditya Kumar Halwasiya, Chairman & Managing Director of Cupid Limited, stated that the decision reflects strong conviction in GII's strategy and the quality of underlying healthcare assets. He noted that the strategic relationship creates opportunities extending beyond financial returns, aligning with Cupid's mission to enhance preventive healthcare outcomes globally.

Operational Expansion and Portfolio Growth

While expanding its investment footprint, Cupid continues to scale its core manufacturing operations. The company completed a strategic land acquisition in Palava, Maharashtra, enabling a 1.5 times increase in production capacity. This expansion will augment annual output by approximately 770 million male barrier contraceptives and 75 million female barrier contraceptives.

Cupid remains a global leader in health and personal care products, including barrier contraceptives, water-based lubricants, and In Vitro Diagnostics (IVD) kits. The company has recently expanded into Fast-Moving Consumer Goods (FMCG), introducing fragrances, personal care items, and wellness solutions. It exports to over 125 countries and holds WHO/UNFPA pre-qualification for both male and female barrier contraceptives, a unique global distinction.

What the Numbers Show

The decision to fund the USD 5 Mn investment entirely through internal accruals indicates strong cash flow generation from Cupid's core operations. Rather than leveraging debt or diluting equity, the company is deploying existing liquidity to capture higher-growth opportunities in the GCC healthcare market. This approach preserves financial flexibility while positioning Cupid to benefit from the structural growth in international healthcare spending, particularly in Saudi Arabia where GII holds key stakes.

Cupid Limited has issued a critical notice to shareholders holding equity shares with unclaimed final dividends from financial year 2018-19, warning that these shares will be transferred to the Investor Education and Protection Fund (IEPF) Authority if the dividends are not encashed by November 02, 2026. The company, a manufacturer and exporter of male and female condoms, water-based lubricants, and in vitro diagnostics (IVD) kits, stated that the transfer is mandatory for any dividend remaining unclaimed or unpaid for seven consecutive years. Shareholders who fail to meet this deadline will lose their equity holdings, which will be credited to the demat account of the IEPF Authority along with the unpaid dividend amount within 30 days of the deadline.

The intimation was dispatched on July 28, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication aligns with Section 124(6) of the Companies Act, 2013, read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, as amended. Hardik Chandra, Company Secretary and Compliance Officer at Cupid Limited, signed the disclosure, confirming that the details of affected shareholders have been uploaded to the company’s website.

Key Dates and Actions

Shareholders are advised to verify their folio numbers and demat account details immediately. The company emphasized that no further communication will be sent prior to the transfer. Once transferred, shareholders can reclaim their assets from the IEPF Authority only by following the specific procedure prescribed under the IEPF Rules, which involves filing claims and providing necessary documentation to the authority.

Contact and Support

For queries regarding the transfer process or to verify claim status, shareholders may contact Cupid Limited’s Registrar and Transfer Agent, Bigshare Services Private Limited. The RTA’s office is located at Unit: Cupid Limited, Office No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri East, Mumbai – 400093. Shareholders can reach the RTA via telephone at +91-22-62638200, 62638221, 62638222, or 62638223, or via email at investor@bigshareonline.com . The company’s registered office remains at A-68, M.I.D.C. (Malegaon), Sinnar, Nashik – 422113, Maharashtra.

What This Means for Investors

This transfer mechanism is a statutory compliance requirement designed to clean up corporate registers of dormant holdings. For active investors, the primary risk is the accidental loss of equity due to administrative oversight, such as outdated bank details or failure to track dividend warrants. The seven-year threshold means that dividends declared in FY19 (financial year 2018-19) are now reaching the end of their claimable window. Investors holding physical shares or those who have not updated their bank mandates should act before November 02, 2026, to avoid the complex and time-consuming process of recovering shares from the IEPF Authority.