Acquisition

Date: September 26, 2026 BSE Limited, The National Stock Exchange of India Ltd, Phiroze Jeejeebhoy Towers, “Exchange Plaza”, 5th Floor, Dalai Street, Bandra - Kurla Complex, Bandra (East), Mumbai - 400 001 Mumbai - 400051 Scrip Code: 530843 Symbol: CUPID Subject: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Conversion of upto 30,00,000 Warrants, in or more tranches, of Baazar Style Retail Limited (“Baazar Style”) held by the Company Dear Sir / Ma’am, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time (“SEBI Listing Regulations”), we hereby inform you that the Board of Directors of the Company has today i.e. Saturday, September 26, 2026, approved conversion of up to 30,00,000 Warrants, in one or more tranches, into an equivalent number of Equity Shares of Baazar Style Retail Limited (“Baazar Style”). The Board of Directors, at its meeting held on January 21, 2026, had already approved investment in 1,01,00,000 Warrants of Baazar Style at ₹328.25/- per Warrant, out of which 15,00,000 Warrants were converted into Equity Shares on May 15, 2026. Accordingly, 86,00,000 Warrants are presently outstanding, out of which up to 30,00,000 Warrants are now proposed to be converted in one or more tranches. The proposed conversion is within the overall 1,01,00,000 Warrants approved by the Board and is at the predetermined price of ₹328.25/- per Equity Share. The disclosure as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 (as amended from time to time) is enclosed herewith. (Annexure – I) This intimation is also being uploaded on the Company’s website at https://www.cupidlimited.com/ This is for your information and records. Thanking you. For Cupid Limited Hardik Chandra Company Secretary and Compliance Officer Encl: As above Annexure – I Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 Conversion of upto 30,00,000 Warrants, in or more tranches, of Baazar Style Retail Limited (“Baazar Style”) held by the Company Particulars Details 1. Name of the target entity, details in Name: Baazar Style Retail Ltd brief such as size, turnover etc. Authorized Share Capital (As on 31st March, 2026): Rs. 50,00,00,000/- divided into 10,00,00,000 equity shares of Rs. 5 per share. Paid Up Share Capital (As on 31st March, 2026): Rs. 37,30,86,765 divided into 7,46,17,353 equity shares of Rs. 5 per share. Turnover, PAT, Net Worth: (Consolidated as on 31st March, 2026) Turnover: Rs. 1,84,086.90 Lacs PAT: Rs. 4,686.78 Lacs Net Worth: Rs. 45,017.39 Lacs 2. Whether the acquisition would fall The acquisition will not fall within related party within related party transaction(s) and transaction(s) and the promoter / promoter whether the promoter/ promoter group/ group / group companies does not have any group companies have any interest in interest in the entity being acquired. the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” 3. Industry to which the entity being Specialty Retail acquired belongs. 4. Objects and effects of acquisition This strategic investment marks an important (including but not limited to, disclosure step in strengthening Cupid’s retail presence and of reasons for acquisition of target expanding consumer reach. Style Baazar’s entity, if its business is outside the established network of over 283 stores will main line of business of the listed provide a strong platform to scale Cupid’s entity). FMCG product portfolio across key regional markets. As the store network expands to over 500 locations within next 3 years, Cupid’s products will be an integral part of that growth, enabling wider availability, improved visibility, and deeper engagement with consumers. 5. Brief details of any governmental or Not Applicable regulatory approvals required for the acquisition. 6. Indicative time period for completion As per timelines specified under the provisions of the acquisition. of SEBI (ICDR) Regulations, 2018. 7. Nature of consideration - whether Cash consideration for exercising of right of cash consideration or share swap and conversion of warrants in to Equity Shares. details of the same. 8. Cost of acquisition or the price at Approx. Rs. 73.86 Crores in one or more tranches which the shares are acquired. for conversion of upto 30,00,000 warrants, in one or more tranches, into equivalent number of Equity Shares. 9. Percentage of shareholding / control Upto 30,00,000 warrants will be converted, in one acquired and / or number of shares or more tranches, into equivalent number of acquired. Equity Shares out of total outstanding 86,00,000 warrants. 10. Brief background about the entity Baazar Style Retail Limited was incorporated on acquired in terms of products / line of June 3, 2013. The Company is engaged in the business acquired, date of business of fashion retail. incorporation, history of last 3 years turnover, country in which the acquired Country of Incorporation – India. entity has presence and any other significant information (in brief). Consolidated turnover of the targeted company for last 3 years is as follows: (Rs. In Lacs) Particulars 2023-24 2024-25 2025-26 Revenue 97,288.20 134,371.29 1,84,094.52 from operations Other 994.46 897.58 1,161.95 income Total 98,282.66 135,268.87 1,85,256.47 income For Cupid Limited Hardik Chandra Company Secretary and Compliance Officer