Shares of Cupid Ltd, a midcap healthcare and personal care company, jumped 13% after the board approved a 4:1 bonus issue, granting four free shares for every one held. The move aims to improve affordability, enhance liquidity, and expand retail participation, reflecting management’s confidence in future growth prospects.
Cupid Ltd has announced a significant corporate action, approving a 4:1 bonus issue that will provide shareholders with four fully paid-up equity shares for each one they currently hold. The announcement triggered strong investor enthusiasm, with the stock surging 13% in intraday trading.
The company, known for its healthcare, wellness, and personal care products including condoms, lubricants, perfumes, and diagnostic kits said the bonus issue is designed to make its shares more affordable, broaden retail participation, and improve liquidity in the market.
Key Highlights:
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Bonus Ratio: 4:1 (four free shares for each one held).
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Market Reaction: Stock price surged 13% post-announcement.
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Objective: Enhance liquidity, affordability, and retail investor base.
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Company Profile: Established in 1993, Cupid Ltd operates in healthcare, wellness, and personal care segments.
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Strategic Context: Reflects management’s confidence in business fundamentals and growth trajectory.
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Record Date: To be announced in due course.
This development underscores Cupid Ltd’s proactive approach to shareholder value creation and positions the company for stronger engagement with retail investors in India’s dynamic midcap market.
Sources: Reuters, Business Standard, Company filing (Cupid Ltd).