Please find the attached letter in reference to the acquisition of the target entity.
ELCIDIN · price
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Awaiting price reaction for this filing.
Elcid Investments Ltd, an NBFC, has signed an agreement to invest approximately ₹15 crore in Nexon Omniverse Limited, a fast fashion retailer operating two verticals — Style Union and Ethnicity. The investment involves subscribing to 988 Series D CCPS (at ₹1,00,000 each, converting into 1,81,682 shares), buying 421 Series B CCPS from Kasturi Trust (converting to 18,046 shares), and acquiring 75,955 equity shares from two sellers at ₹543.8 per share. The deal is entirely in cash, not a related party transaction, and is expected to complete within 30 days. Despite investing ₹15 crore, Elcid will hold only about 0.60% of Nexon Omniverse on a fully diluted basis, indicating this is a minority financial investment rather than a strategic control deal. Nexon Omniverse's revenue has grown sharply, from ₹183.72 crore in FY23 to ₹582.55 crore in FY25.
For Elcid shareholders, this is a small minority investment (0.60% stake) using ~₹15 crore of capital into a high-growth fashion retail company, diversifying from its core NBFC business. The minimal ownership suggests limited direct strategic control, so near-term impact on stock price is likely muted unless future acquisitions expand the stake.