Press Release – July 30, 2026
Cupid Limited, a listed Indian manufacturer of health and personal‑care products, announced a follow‑on investment of USD 5 million in GII Healthcare Investment Limited. The funding is sourced entirely from internal accruals and is intended to deepen the strategic partnership between the two entities.
The additional capital reflects Cupid’s continued confidence in GII’s healthcare investment strategy and its conviction that the GCC healthcare sector offers long‑term growth opportunities, driven by rising healthcare expenditure, expanding populations, increasing insurance penetration and sustained government investment across the region. The investment was made at an attractive valuation, allowing Cupid to increase its participation in GII’s platform, which currently holds a significant equity stake in a prominent Saudi‑based healthcare provider.
GII Healthcare Investment Limited is a leading investment firm with assets under management exceeding USD 3.5 billion and a geographic presence spanning Saudi Arabia, the United Arab Emirates, Europe, the United States and India. Its track record includes investments in Abeer Medical Company, a leading integrated healthcare provider in Saudi Arabia, and AlMeswak Dental Company, a major dental and dermacare chain in the Kingdom.
Cupid Limited, established in 1993, manufactures essential healthcare and hygiene products such as male and female barrier contraceptives, water‑based personal‑care gels and in‑vitro diagnostic kits. The company has recently broadened its product portfolio to include fast‑moving consumer goods such as fragrances, deodorants, pocket perfumes, toilet sanitizers, hair and body oils, hair‑removal sprays and face washes. In 2024, Cupid completed a strategic land acquisition in Palava, Maharashtra, which will increase its production capacity by 1.5 times, adding approximately 770 million male barrier contraceptives and 75 million female barrier contraceptives to its annual output. The firm exports to more than 125 countries, holds WHO/UNFPA pre‑qualification for both male and female barrier contraceptives, and has a long‑term agreement with WHO/UNFPA. Cupid is listed on the Bombay Stock Exchange (BSE: 530843) and the National Stock Exchange of India (NSE: CUPID).
Commenting on the development, Mr. Aditya Kumar Halwasiya, Chairman & Managing Director of Cupid Limited, said the additional investment demonstrates the company’s strong conviction in GII’s healthcare strategy and the long‑term strategic partnership they have built, emphasizing that the relationship creates opportunities beyond financial returns while aligning with Cupid’s mission to enhance preventive healthcare and wellness outcomes.