Elcid Investments acquires stake in fashion retailer Nexon Omniverse

Elcid Investments Limited has announced its acquisition of a stake in Nexon Omniverse Limited, a fashion retailer operating under "Style Union" and "Ethnicity" verticals. The investment, totaling approximately ₹15,00,00,000, will give Elcid Investments approximately 0.60% of Nexon Omniverse's share capital on a fully diluted basis. This transaction is expected to be completed within 30 days.

The acquisition involves subscribing to 988 Series D Compulsorily Convertible Preference Shares (CCPS) at ₹1,00,000 per CCPS, acquiring 421 Series B CCPS from Kasturi Trust at ₹23,310 per CCPS, and purchasing equity shares from Piyush Goyal and Perspective Fashion & Accessories at ₹543.8 per share. Nexon Omniverse, incorporated on September 7, 2011, reported a turnover of ₹582.55 crores for the financial year ended March 31, 2025.

This move aligns with Elcid Investments' main objects as an NBFC, representing a normal course of business for the company. Nexon Omniverse specializes in fast fashion apparel and accessories for men, women, and kids, as well as an MBO format for ethnic wear and home accessories.