Cupid Limited — Others, 11-08-2025: Monitoring Agency Report

Cupid Limited's Monitoring Agency Report for the quarter ended June 30, 2025, confirms the proper utilization of proceeds from its Preferential Issue. CRISIL Ratings Limited, the monitoring agency, found no deviation from the stated objectives for the Rs 385.22 crore issue. Of the Rs 96.30 crore already received, Rs 19.83 crore was allocated to capacity enhancement, Rs 57.78 crore fully utilized for working capital, and Rs 18.69 crore for general corporate purposes. The remaining Rs 288.92 crore is expected from warrant conversions by September 2025, earmarked for strategic foreign acquisitions and new foreign subsidiaries. This update provides clarity on fund deployment for shareholders.