Cupid , a leading manufacturer and exporter of male condoms, female condoms, water-based lubricants, and In Vitro Diagnostics (IVD) Kits, has reported a significant increase in its promoter's shareholding. Aditya Kumar Halwasiya, the Promoter, Chairman, and Managing Director of Cupid, has acquired an additional 5,00,000 equity shares through open market transactions.

Shareholding Impact

The recent acquisition has resulted in a notable change in the company's shareholding structure:

Transaction Details

The acquisition was executed through open market purchases, as disclosed in compliance with the Securities and Exchange Board of India (SEBI) regulations on substantial acquisition of shares. This move underscores the promoter's confidence in the company's future prospects and aligns with their commitment to increasing their stake in the business.

Company Overview

Cupid, listed on both the BSE and the National Stock Exchange, maintains its equity share capital at Rs. 26,84,67,140, divided into 26,84,67,140 equity shares of Re. 1 each. The company's manufacturing facility is located at A-68, M.I.D.C., Sinnar, Malegaon, Nashik – 422113.

Market Implications

This increase in promoter holding could be viewed positively by the market, as it often signals management's faith in the company's growth potential. However, investors should conduct their own research and consider various factors before making investment decisions.

The company has duly informed the stock exchanges about this transaction, ensuring transparency and compliance with regulatory requirements. As Cupid continues to strengthen its position in the healthcare and personal care products sector, market participants will likely keep a close watch on further developments and the company's performance in the coming quarters.

Cupid Limited , a prominent manufacturer and exporter of male condoms, female condoms, water-based lubricants, and In vitro Diagnostics (IVD) Kits, has reported a significant change in its promoter shareholding. Aditya Kumar Halwasiya, the Promoter, Chairman, and Managing Director of Cupid Limited, has increased his stake in the company through a substantial share acquisition.

Key Highlights of the Transaction

• Acquisition Details: Aditya Kumar Halwasiya acquired 11,00,000 equity shares of face value Re. 1 each through open market transactions.
• Shareholding Increase: Following this acquisition, Halwasiya's personal shareholding in Cupid Limited rose from 85,355,582 shares (31.79%) to 86,455,582 shares (32.20%) of the total share capital.
• Promoter Group Holding: The combined promoter group holding, which includes Columbia Petro Chem Private Limited's 34,839,850 shares (12.98%), now stands at 121,295,432 shares, representing 45.18% of the company's total equity.
• Transaction Date: The acquisition took place on September 24, as per the disclosure made to the stock exchanges.

Impact on Shareholding Structure

The transaction has led to a modest but notable increase in the promoter group's overall stake in Cupid Limited. Here's a breakdown of the changes:

Company Overview

Cupid Limited maintains its equity share capital at Rs. 26,84,67,140, divided into 26,84,67,140 equity shares of Re. 1 each. The company specializes in the production and export of sexual health and wellness products.

Regulatory Compliance

The disclosure of this transaction was made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires prompt disclosure of any acquisition of shares that results in the acquirer's shareholding crossing certain thresholds.

This strategic move by the promoter to increase his stake may be seen as a sign of confidence in the company's future prospects. However, investors are advised to conduct their own research and consult financial advisors before making investment decisions.