Cupid Limited — Others, 24-01-2025: Monitoring Agency Report

Cupid Limited has provided a Monitoring Agency Report for the quarter ending December 31, 2024, prepared by CRISIL Ratings Limited. The report confirms that there were no deviations in the utilization of proceeds from the recent preferential issue valued at Rs 385.22 crores. Notably, the company utilized Rs 6.14 crores for general corporate purposes, while significant allocations for strategic foreign acquisitions remain unutilized. This effective management of funds could inspire a positive outlook among investors, reinforcing confidence in Cupid's capital deployment strategy and operational execution prospects, despite the unspent amounts in other areas.