Acquisitions29 Aug 2025, 02:04 am
EL CID Investments Ltd Acquires Nexon Omniverse Limited with a Turnover of 582.55 Crores for INR 15,00,00,000
AI Summary
EL CID Investments Ltd has entered into an agreement to subscribe to Compulsory Convertible Preference Shares and Equity shares of Nexon Omniverse Limited, a fashion retailer with a total turnover of 582.55 Crores for the financial year ended March 31, 2025. The acquisition includes subscribing to 988 Series D Compulsory Convertible Preference Shares (CCPS) of Nexon Omniverse at a subscription price of INR 1,00,000 per CCPS, acquiring 421 Series B CCPS from Kasturi Trust, and purchasing equity shares from Piyush Goyal and Perspective Fashion & Accessories. The total investment is approximately INR 15,00,00,000 which gives EL CID Investments Ltd a 0.60% stake in Nexon Omniverse on a fully diluted basis.
Key Highlights
- EL CID Investments Ltd has agreed to acquire Nexon Omniverse Limited, a fashion retailer with a total turnover of 582.55 Crores for the financial year ended March 31, 2025.
- The acquisition includes subscribing to 988 Series D Compulsory Convertible Preference Shares (CCPS) of Nexon Omniverse at a subscription price of INR 1,00,000 per CCPS.
- EL CID Investments Ltd will also acquire 421 Series B CCPS from Kasturi Trust, and purchase equity shares from Piyush Goyal and Perspective Fashion & Accessories.
- The total investment is approximately INR 15,00,00,000 which gives EL CID Investments Ltd a 0.60% stake in Nexon Omniverse on a fully diluted basis.
- Nexon Omniverse operates under two verticals: Style Union for fast fashion apparel & accessories for men, women and kids, and Ethnicity for MBO format for ethnic wear and home accessories.