PNN
Mumbai (Maharashtra) [India], July 16: Cupid Limited, (BSE - 530843, NSE - CUPID), Cupid Limited, India's premier manufacturer and brand of male and female condoms, water based personal lubricants, IVD kits, deodorants, perfumes, almond hair oil, body oils, petroleum jelly and other FMCG Products, is pleased to announce a strategic investment in GII Healthcare Investment Limited, a healthcare-focused investment vehicle managed by Gulf Islamic Investments (GII).
GII Healthcare Investment Limited holds a significant minority equity stake in a prominent healthcare provider based in Saudi Arabia, GII is a leading investment firm with assets under management exceeding US$ 3.5 billion with presence across Saudi Arabia, UAE, Europe, USA and India.
Cupid Limited, one of India's leading producers of health and personal care products -- including male and female condoms, water-based personal lubricants, diagnostic kits, fragrances, hair and body oils, and other FMCG items -- this investment represents Cupid Limited's first strategic entry into the Middle Eastern market. This initiative reflects the company's long-term vision to diversify and drive opportunities in global markets with high growth potential.
Commenting on the development, Mr. Aditya Kumar Halwasiya, Chairman and Managing Director, said, "We are proud to invest in the healthcare-focused investment vehicle of GII in this landmark partnership. This investment represents a secure, dollar-denominated asset and lays the foundation for Cupid's entry into the Gulf region. Our personal care products align strongly with the patient demographic in the GCC, creating future synergies and huge distribution opportunities."
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