ELCID Investments Limited, a Mumbai-based non-banking financial company (NBFC), has announced plans to acquire a 0.6% stake in Nexon Omniverse Limited for approximately ₹15 crore. The investment will be made through a combination of Compulsory Convertible Preference Shares (CCPS) and equity subscription, marking a strategic move in ELCID's investment portfolio.

Investment Details

The transaction, as disclosed in a regulatory filing, involves the following components:

1. Subscription to 988 Series D Compulsorily Convertible Preference Shares (CCPS) at ₹1,00,000 per CCPS
2. Acquisition of 421 Series B CCPS from Kasturi Trust at ₹23,310 per CCPS
3. Purchase of 20,451 equity shares from Piyush Goyal at ₹543.80 per share
4. Acquisition of 55,504 equity shares from Perspective Fashion & Accessories at ₹543.80 per share

About Nexon Omniverse

Nexon Omniverse Limited, formerly known as Ethnicity Limited, is a fast-fashion retailer operating under two main verticals:

1. Style Union: Offering fast fashion apparel and accessories for men, women, and children
2. Ethnicity: An MBO (Multi-Brand Outlet) format specializing in ethnic wear and home accessories

The company, incorporated on September 7, 2011, has shown significant growth in recent years. Its turnover has increased from ₹183.72 crore to ₹346.71 crore, and further to ₹582.55 crore over three consecutive fiscal years.

Strategic Implications

ELCID Investments' decision to invest in Nexon Omniverse aligns with its core business as an NBFC. The company stated that this acquisition is part of its normal course of business and is in line with its main objectives.

Transaction Timeline

The indicative time period for completing the acquisition is set at 30 days. The investment is expected to be made through cash consideration, and no governmental or regulatory approvals are required for the transaction.

Market Impact

This investment by ELCID Investments in a rapidly growing fashion retail business could potentially diversify its portfolio and tap into the expanding Indian retail market. The stake, although minor at 0.6%, provides ELCID with exposure to a company that has demonstrated strong growth in recent years.

As the Indian retail sector continues to evolve, particularly in the fast fashion and ethnic wear segments, this strategic investment may position ELCID Investments to benefit from the sector's growth trajectory.

Investors and market watchers will likely keep a close eye on how this acquisition impacts ELCID Investments' financial performance and strategic direction in the coming quarters.

ELCID Investments Limited, a Non-Banking Financial Company (NBFC) focused on investment activities, has reported robust financial results for the first quarter of fiscal year 2025, ending June 30. The company also announced changes to its Audit Committee composition.

Financial Performance

Elcid Investments showcased significant growth in its standalone operations for Q1 FY2025:

The company's standalone revenue from operations saw a substantial increase of 180.30% year-over-year, rising from ₹1,935.34 lakh in Q1 FY2024 to ₹5,424.72 lakh in Q1 FY2025. However, the standalone profit for the quarter decreased by 64.43%, from ₹8,775.46 lakh in the previous year to ₹3,121.05 lakh.

On a consolidated basis, Elcid Investments reported:

The consolidated revenue from operations remained relatively stable with a marginal decrease of 0.72%, while the consolidated profit saw a decline of 45.11% compared to the same quarter last year.

Audit Committee Reconstitution

In a significant governance move, Elcid Investments announced the reconstitution of its Audit Committee. Effective August 09, 2025, the new composition will be:

1. Mr. Essaji Vahanvati - Chairman (Non-Executive Independent Director)
2. Mr. Kartikeya Kaji - Member (Non-Executive Independent Director)
3. Mrs. Ragini Vakil - Member (Non-Executive Non-Independent Director)

This restructuring aims to enhance the committee's oversight and ensure robust financial governance.

Company Overview

Elcid Investments Limited operates as a Non-Banking Financial Company, primarily engaged in investment activities. The company, along with its subsidiaries, focuses on managing investments and does not have any other separate reporting segments as per IND AS 108 "Operating Segment".

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on August 08, 2025. The company's management has prepared these results in accordance with Indian Accounting Standards (IND AS) and in compliance with the regulatory requirements of the Securities and Exchange Board of India (SEBI).

Investors and stakeholders can find more detailed information about Elcid Investments Limited's Q1 FY2025 performance in the full financial report available on the company's website and the stock exchange filings.