Healthcare and consumer wellness company Cupid Limited has entered into a long-term exclusive retail partnership with V2 Retail Limited, securing dedicated retail space across V2 Retail's network of more than 427 stores across India. According to reports from CNBC TV18, the company expects the arrangement to generate approximately ₹400 crore in revenue over the next 12 months. Under the agreement, Cupid will receive 400 sq ft of exclusive retail space in each of V2 Retail's existing stores, translating into more than 1.7 lakh sq ft across the current network. The partnership will provide Cupid access to V2 Retail's existing retail network without having to independently establish a comparable physical store infrastructure, with its retail presence also expected to expand alongside V2 Retail's future store additions.
On Friday, November 6, shares worth ₹258 crore changed hands during the block deal window, with Aditya Halwasiya and Ananta Capital emerging as likely buyers according to sources reported by CNBC TV18. The transaction involved approximately 1.61 crore shares at ₹160 per share, representing 4.42% of V2 Retail's equity. Halwasiya holds a significant 34% stake in Cupid, where the promoter group's total holding stands at 47%, alongside additional stakes of 6% in Baazar Style and 7% in TFCI. A block deal is executed through a separate window before regular trading begins to avoid disrupting normal market activity.
Supply operations are expected to commence shortly, with Cupid products targeted to be available across V2 Retail's entire store network by mid-December 2026. As reported by CNBC TV18, the arrangement will also cover all future stores opened by V2 Retail across the country, providing Cupid with a nationwide retail platform without having to independently establish comparable physical store infrastructure. The dedicated retail spaces will showcase Cupid's portfolio of personal care, wellness, hygiene and other consumer products, with additional products and categories to be introduced progressively. The arrangement covers V2 Retail's entire network of 427 stores, along with every store the company would open in future.
Following the block deal announcement, V2 Retail shares jumped 9% to trade at ₹175.75 on Friday, as reported by CNBC TV18. However, the stock has been an underperformer in 2026, having declined 28% so far this year. The strategic partnership between Cupid and V2 Retail represents a significant expansion of Cupid's retail footprint across India's value retail segment, with the company expecting the arrangement to generate substantial revenue growth over the next 12 months.
