Cupid Limited announced on 28th January, 2026, that it has received CE (EU IVDR) certification for two critical in-vitro diagnostic products, marking a significant expansion of its global market access in the diagnostics sector. The certifications cover the CupiKIT HIV 1&2 Antibody Test Kit and the CupiKIT Hepatitis B Surface Antigen Test Kit, both designed for early detection and large-scale screening programs.

Regulatory Milestone Achievement

The certifications have been granted under the European Union In Vitro Diagnostic Regulation (EU) 2017/746, which represents among the most stringent regulatory standards globally. This approval enables Cupid Limited to market the certified products across the European Economic Area and other CE-recognized international markets.

Strategic Market Expansion

The newly certified products are intended for early detection and large-scale screening programs, particularly across public health initiatives and institutional procurement channels in Europe, Africa, and other emerging markets. The certifications enhance Cupid's eligibility to participate in government tenders, multilateral agency programs, and regulated international healthcare supply chains where EU IVDR compliance is mandatory.

These approvals mark a key milestone in Cupid's strategy to build a globally compliant and diversified rapid diagnostics portfolio. The addition of HIV 1&2 and Hepatitis B test kits strengthens the company's footprint in infectious disease diagnostics, complementing its existing focus on maternal health and screening solutions.

Management Commentary

Commenting on the development, Mr. Aditya Kumar Halwasiya, Chairman & Managing Director of Cupid Limited, stated that the CE certification represents a meaningful step in strengthening the company's global diagnostics business. He emphasized that these approvals expand access to regulated international markets and enhance the ability to participate in large-scale screening and public health programs.

Company Background and Expansion

Established in 1993, Cupid Limited has evolved from being a leading manufacturer of male and female condoms into a diversified healthcare platform. The company now offers rapid diagnostic test kits, water-based personal lubricants, and a wide range of FMCG and wellness products including fragrance products, personal care items, and wellness solutions.

The company maintains a strong international presence, exporting to over 125 countries and holding the distinction of being the first company globally to receive WHO/UNFPA pre-qualification for both male and female condoms. In March 2024, Cupid completed a strategic land acquisition in Palava, Maharashtra, to expand manufacturing capabilities by 1.5 times, adding approximately 770 million male condoms and 75 million female condoms annually.

Cupid Limited has announced the successful allotment of 4,65,000 equity shares to employees under its Employee Stock Option Plan (ESOP) 2022. The company's Nomination and Remuneration Committee approved this allotment on January 27, 2026, as part of its employee incentive program.

Share Allotment Details

The equity shares were allotted to grantees who exercised their stock options under the Cupid Limited – Employees Stock Option Plan 2022. The allotment represents a significant employee participation in the company's equity structure.

Impact on Share Capital

Following this allotment, Cupid Limited's total issued share capital has increased to 26,89,32,140 shares. The newly allotted equity shares will rank pari-passu with the company's existing equity shares, ensuring equal rights and privileges for all shareholders.

Corporate Action Adjustments

The ESOP terms reflect adjustments made due to previous corporate actions, including subdivision of equity shares from face value of Rs. 10 to Re. 1 and bonus share issuance in 1:1 ratio in April 2024. These adjustments resulted in:

• Original shares of 23,250 adjusted to 4,65,000 shares
• Exercise price adjusted from Rs. 140 to Rs. 7 per share
• Premium adjusted from Rs. 130 to Rs. 6 per share

Regulatory Compliance

The allotment was conducted in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The shares carry ISIN INE509F01029 and are listed on both BSE Limited and National Stock Exchange of India Limited. No lock-in restrictions apply to the allotted shares, providing immediate liquidity to the employee beneficiaries.