Please find attached herewith update on Acquisition.
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Awaiting price reaction for this filing.
Bombay Cycle & Motor Agency Ltd (BCMA) has revised the terms of its earlier announced investment in Aydi Restaurants India Private Limited, which runs the pizza chain 'Si Nonna's - The Original Sourdough Pizza' with 12 outlets. BCMA will subscribe to 46,856 equity shares of Rs. 10 each at a premium of Rs. 843.67 per share, for a total investment of up to INR 4 crores in cash. Post-transaction, BCMA will hold approximately 0.70% stake in Aydi. Aydi's turnover grew sharply from nil in FY22 to INR 263.38 lakhs in FY23 and INR 1,357.03 lakhs in FY24. The deal is expected to close within 6 months and is not a related-party transaction.
For shareholders, this is a small, strategic minority investment (0.70% stake) into a fast-growing pizza chain that is outside BCMA's core auto/cycle business. The INR 4 crore outlay is modest and unlikely to materially move the stock, but it signals the company's intent to diversify into the restaurant sector.