Cupid Limited has completed the conversion of 30,00,000 warrants into an equivalent number of equity shares of Baazar Style Retail Limited. The transaction was executed at a predetermined price of ₹328.25 per share, marking a significant step in the company’s strategic investment in the retail sector.

Transaction details and regulatory compliance

The conversion was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This action follows the Board of Directors' earlier approval on September 26, 2026, which authorized the conversion of up to 30,00,000 warrants held by Cupid Limited. The move consolidates the company's position as a shareholder in Baazar Style Retail Limited through direct equity ownership rather than derivative instruments.

Warrant status post-conversion

Following this tranche of conversions, the total number of warrants allotted to Cupid Limited remains unchanged, but the composition of converted versus outstanding instruments has shifted. The table below outlines the current status of the warrant holdings:

What the Numbers Show

The data reveals that 44.5% of the total warrants allotted to Cupid Limited have now been converted into equity shares. With 45,00,000 warrants converted out of 1,01,00,000 allotted, the company retains a substantial pipeline of 56,00,000 warrants for future conversion. This structure allows Cupid Limited to incrementally increase its equity stake in Baazar Style Retail Limited while managing capital outflow over time.

A large-trade signal flagged approximately 729,997 shares of Cupid changing hands on the NSE at ₹353.20 per share, with a combined value of ₹25.78 crore.

This is a real-time large-trade signal, not a confirmed block or bulk deal. NSE/BSE publish official block and bulk deal reports only after market close — this trade may or may not appear there.

Trade details

The activity was flagged by a real-time trade-scanning system that identified a cluster of trades in the stock printing at or near ₹353.20 within a short window, for a combined size of approximately 729,997 shares. The signal was captured on the NSE.

No buyer, seller, broker, or client identity is known at this stage. Such identities are disclosed only in official exchange reports published after market close, which this signal does not anticipate or represent.

What this is, and isn't: this reflects trade-level activity — a cluster of trades in the stock above, printed within a short window at or near the quoted price, for a combined value as stated. It is generated by our real-time trade-scanning system and is not, by itself, evidence of a block or bulk deal.

A block deal has to be executed in the exchange's dedicated window (8:45–9:00am or 2:05–2:20pm), within a set price band, and above the current minimum order size (₹25 crore). A bulk deal is when one client's total trading in a stock crosses 0.5% of its equity in a single day — confirmed only once every trade that client made is added up.

Both are published by NSE/BSE after trading hours end, typically after 3:30pm — never before. If this trade qualifies as either, it will appear in the exchange's own report later today, not here first.