Cupid Limited has been acquired by Universal-Halwasiya Group and Family through Columbia Petro Chem Private Limited and Mr. Aditya Halwasiya, a promoter of Universal Petro Chemicals Limited.
The Universal-Halwasiya Group and Family have entered in definitive Agreement to buy 41.84% Equity Capital/Voting rights from the promoter/Promoter Group of Cupid Limited, namely Mr. Omprakash Garg and Mrs. Veena Garg and exercise Management Control of the Cupid Limited, subject to regulatory compliances and approval.
As per SEBI Regulation, Universal-Halwasiya Group and Family has made an open offer to acquire additional 26% of the outstanding equity shares of the Cupid Limited from the public shareholders. Universal-Halwasiya Group and Family has appointed Monarch Networth Capital Limited, as the Manager to the offer.