Cupid Limited has issued a clarification to BSE regarding ongoing negotiations with Baazar Style Retail Limited, following an exchange inquiry about news reports that appeared on Economic Times website. The company responded to BSE's surveillance department inquiry dated January 21, 2026, providing detailed information about the negotiation timeline and current status.

Negotiation Timeline and Details

The company confirmed that negotiations with Baazar Style Retail Limited are indeed taking place. The sequence of events has been clearly documented by Cupid Limited in its response to the exchange.

Cupid Limited received an invitation for expression of interest from Baazar Style Retail Limited on January 14, 2026. On the same day, the company communicated its expression of interest to participate in the proposed transaction, subject to receipt of all necessary internal, regulatory and statutory approvals.

Exchange Compliance and Disclosure

In response to BSE's inquiry about undisclosed information that could explain trading movements, Cupid Limited stated that the company is not aware of any information that has not been announced to the exchanges which could explain the movement in trading. This response addresses concerns about potential information asymmetry in the market.

The company also confirmed that it is not aware of any regulatory or legal proceedings related to this matter. Cupid Limited has assured that it will make necessary disclosures upon the occurrence of any material development in the negotiations.

Company Background

Cupid Limited operates as a manufacturer and exporter of male condoms, female condoms, water-based lubricants, and In Vitro Diagnostics (IVD) kits. The company is headquartered at A-68, M.I.D.C. (Malegaon), Sinnar, Nashik, Maharashtra, and trades on BSE with scrip code 530843.

Regulatory Compliance

The clarification was signed by Saurabh V. Karmase, Company Secretary and Compliance Officer, demonstrating the company's commitment to maintaining transparency with regulatory authorities. The response addresses all specific queries raised by BSE's surveillance department regarding the negotiations and ensures compliance with disclosure requirements under applicable regulations.

Shares of personal care company Cupid Ltd gained momentum in early trading today as investors positioned themselves ahead of an important board meeting scheduled for January 29. The stock is attracting attention due to the potential announcement of the company's third bonus issue proposal.

Stock Performance

Cupid shares opened flat at ₹431.20 on the NSE but quickly gained traction during morning trading hours. The stock performance during the session is detailed below:

Upcoming Board Meeting

The company has scheduled a board meeting for January 29, where directors will consider the third bonus issue proposal. This development has generated considerable interest among market participants, as bonus issues typically indicate management confidence in the company's financial position and future prospects.

Market Response

The positive market response reflects investor optimism surrounding the potential bonus announcement. The 3% intraday gain demonstrates strong buying interest, with the stock moving from its flat opening to reach the day's high of ₹445.00.

Bonus issues, when approved, provide existing shareholders with additional shares without requiring any payment, effectively increasing their shareholding in proportion to their current holdings. The consideration of a third such proposal suggests the company's continued focus on rewarding shareholders through equity participation.