Mumbai, Jan. 21 -- Investors appeared wary of potential dilution from the proposed issuance.

Cupid's shares also came under pressure. The stock slipped 7.69% to Rs 372.30 as markets assessed the impact of the transaction.

In an exchange filing, Baazar Style Retail said its board approved the fundraise at a meeting held on 20 January 2026. The company plans to issue 1.01 crore fully convertible equity warrants. The issue price has been fixed at Rs 328.25 per warrant. The total size of the preferential issue is Rs 331.53 crore.

Each warrant will be convertible into one equity share with a face value of Rs 5. The conversion can be done in one or more tranches. The exercise window is 18 months from the date of allotment.

The transaction i...