Cupid converts 30 lakh warrants into equity shares of Baazar Style Retail at ₹328.25 each
- Mergers & acquisitions
- Consumer Goods
Cupid Limited has told the exchanges that it has completed the conversion of 30,00,000 warrants of Baazar Style Retail Limited into the same number of equity shares of Baazar Style, at the predetermined price of ₹328.25 per share. The company's board had approved the conversion on 26 Sep 2026, and the filing is an update on that acquisition.
At ₹328.25 per share, 30,00,000 shares come to about ₹98.5 crore at the full price. The filing carries a table of the warrants allotted and converted, but the text of that table is not legible, so the amount already paid and the amount paid at conversion are not given here.
The filing is made under Regulation 30 of the SEBI Listing Regulations and is also on the company's website.
Inference
A warrant converts into a share at a price fixed in advance, so Cupid now holds Baazar Style equity shares instead of warrants. The conversion adds shares to Baazar Style's capital and puts a larger stake in Cupid's hands.
The filing does not say what percentage of Baazar Style these shares represent or what Cupid plans to do with the stake. Investors may want to read the company's earlier 26 Sep 2026 disclosure and Baazar Style's own filing for the effect on its share count.
Reference: Original filing (PDF)
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