Cupid Ltd's Strategic Move into Gulf's Healthcare Market

Cupid Ltd has made a strategic investment in GII Healthcare Investment Ltd, which holds a stake in a prominent Saudi healthcare provider. This move marks Cupid's entry into the Gulf region, promising future synergies and distribution opportunities for its personal care products.

Cupid Ltd announced a strategic investment in GII Healthcare Investment Ltd, a vehicle managed by Gulf Islamic Investments (GII), on Wednesday. Though financial details were undisclosed, this marks a significant entry for Cupid into the Gulf's healthcare market.

GII Healthcare Investment Ltd holds a notable minority equity stake in a leading Saudi healthcare provider. GII boasts assets exceeding USD 3.5 billion across various regions including Saudi Arabia, UAE, Europe, the US, and India.

This dollar-denominated investment sets the stage for Cupid's growth in the GCC, aligning its personal care products with local needs and fostering substantial distribution prospects, said Cupid Ltd Chairman and MD Aditya Kumar Halwasiya in a regulatory filing.

(With inputs from agencies.)