Cupid Limited — Others, 24-01-2025: Statement of deviation(s) or variation(s) under Reg. 32

Cupid Limited has announced a board meeting to review the Statement of Deviation and Variation concerning the utilization of funds raised through the allotment of convertible warrants, totaling ₹385.22 crore for the quarter ended 31st December 2024. The Audit Committee found no deviations in the use of these funds, which were allocated for enhancing capacities, certifications, and potential strategic acquisitions.

From an investor perspective, the absence of deviations suggests effective fund management, which could foster a positive outlook on the company's operational stability and strategic direction. However, the remaining 75%, amounting to ₹289.92 crore, is still pending, which introduces a timing risk until its receipt by September 2025 upon warrant conversion.