New Delhi: Cupid Ltd on Wednesday announced a strategic investment in GII Healthcare Investment Ltd, a healthcare-focused investment vehicle managed by Gulf Islamic Investments (GII).
The company, which is into the production of male and female condoms, water-based personal lubricants, IVD kits etc, however, did not share the financial details.
GII Healthcare Investment Limited holds a significant minority equity stake in a prominent healthcare provider based in Saudi Arabia. GII is a leading investment firm with assets under management exceeding USD 3.5 billion across Saudi Arabia, UAE, Europe, the US and India.
"This investment represents a secure, dollar-denominated asset, and lays the foundation for Cupid's entry into the Gulf region," Cupid Ltd Chairman and MD Aditya Kumar Halwasiya said in a regulatory filing.
The company's personal care products align strongly with the patient demographic in the GCC, creating future synergies and huge distribution opportunities, he added.
The company, which is into the production of male and female condoms, water-based personal lubricants, IVD kits etc, however, did not share the financial details.
GII Healthcare Investment Limited holds a significant minority equity stake in a prominent healthcare provider based in Saudi Arabia. GII is a leading investment firm with assets under management exceeding USD 3.5 billion across Saudi Arabia, UAE, Europe, the US and India.
"This investment represents a secure, dollar-denominated asset, and lays the foundation for Cupid's entry into the Gulf region," Cupid Ltd Chairman and MD Aditya Kumar Halwasiya said in a regulatory filing.
The company's personal care products align strongly with the patient demographic in the GCC, creating future synergies and huge distribution opportunities, he added.
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