Cupid, Baazar Fashion Retail shares in concentrate on strategic warrant deal
In a regulatory submitting to the BSE, Baazar Fashion Retail stated its board of administrators, at a gathering held on January 20, permitted a fund-raising proposal following an expression of curiosity from Cupid.
As a part of the plan, Baazar Fashion Retail will elevate capital by issuing 1.01 crore fairness warrants to Cupid Ltd on a preferential foundation. Every warrant will probably be priced at Rs 328.25, taking the full transaction worth to Rs 331.53 crore, with the whole consideration payable in money.
The warrants are convertible into an equal variety of absolutely paid fairness shares with a face worth of Rs 5 every. Conversion could happen in a number of tranches inside 18 months from the allotment date, in keeping with Sebi’s ICDR Laws, 2018, and different relevant legal guidelines.
The preferential challenge will probably be topic to shareholder approval, together with different obligatory regulatory and statutory clearances. The corporate added that January 14, 2026, is the related date for figuring out the difficulty worth beneath Sebi laws.
The proposed funding is being seen as a strategic transfer and is anticipated to attract investor curiosity, maintaining each shares energetic through the buying and selling session.
On Tuesday, shares of Cupid fell 5.11% to shut at Rs 403.35 on the NSE, whereas Baazar Fashion Retail gained 3.5% to finish at Rs 338.80.Over the previous month, Cupid’s shares declined about 10%, although they delivered a robust 60% acquire over the previous three months. In distinction, Baazar Fashion Retail has rallied round 30% over the past one month.
Technical view
In keeping with Trendlyne information, Cupid’s 14-day RSI stands at 45.3, indicating impartial momentum, with RSI ranges under 30 signalling oversold situations and above 70 indicating overbought ranges. In the meantime, Baazar Fashion Retail’s 14-day RSI is at 71.3, inserting the inventory within the overbought zone and elevating the potential for a near-term pullback.
(Disclaimer: The suggestions, strategies, views, and opinions given by the consultants are their very own. These don’t characterize the views of The Financial Instances)
