Cupid Limited announced a private placement of 2,200,000 convertible warrant at a price of INR 437.75 for the gross proceeds of INR 963,050,000 on March 14, 2024. The transaction will include participation from new investors, Elara India Opportunities Fund, a fund managed by, Elara Capital Plc., Forbes EMF, Zeal Global Opportunities Fund, Nova Global Opportunities Fund PCC - Touchstone, Arrow Emerging Opportunities Fund Limited, Aries Opportunities Fund Limited all participating for 400,000 warrants each. The warrants were issued on preferential basis.