Elcid Investments to put ₹1.60 crore more into Nexon Omniverse CCPS
- Mergers & acquisitions
- NBFC investment company
Reviewed byKeshav SehgalBlacklitt Research
Elcid Investments (NSE: ELCIDIN) intends to enter into an agreement to further subscribe to Series E Compulsorily Convertible Preference Shares of Nexon Omniverse Limited for ₹1.60 crore, it said in a filing on 03 Nov 2026. The investment is in cash and is a follow-on to an earlier CCPS subscription in the same company.
Key highlights
- Proposed Series E investment: ₹1.60 crore
- Number of CCPS: 160 at ₹1,00,000 each
- Expected fully diluted stake: about 0.60%
- Indicative completion period: 30 days
The Series E investment in numbers
| Item | Detail |
|---|---|
| Investor | Elcid Investments Limited |
| Target | Nexon Omniverse Limited, a fashion retailer |
| Instrument | Series E Compulsorily Convertible Preference Shares (CCPS) |
| Number of CCPS | 160 |
| Subscription price | ₹1,00,000 per CCPS |
| Total investment | ₹1.60 crore |
| Shares on conversion | 9,195 shares in total, at 57.47 shares per CCPS |
| Consideration | Cash |
| Indicative completion period | 30 days |
Size and terms of the proposed investment
Elcid Investments Limited intends to subscribe to 160 Series E CCPS of Nexon Omniverse Limited at ₹1,00,000 each, a total of ₹1.60 crore in cash.
The filing describes the deal as a subsequent investment, made under the company's earlier subscription to CCPS of the same company. It says the investment is made in the normal course of business, as Elcid is an NBFC-Investment Company and the investment is within its main objects.
Holding and the target's scale
After the earlier and proposed investments, Elcid's aggregate holding in Nexon Omniverse is expected to be about 0.60% of the target's share capital on a fully diluted basis, the filing says.
The target was incorporated on 7 Sep 2011 and reports turnover of ₹1198.7 crore for FY 2026, up from ₹582.9 crore in FY 2025 and ₹346.7 crore in FY 2024.
Context from Elcid's recent filings
Elcid's market value is about ₹2,000 crore, so the ₹1.60 crore proposed investment is small against its size.
What the investment means for Elcid Investments' shareholders
The amount is ₹1.60 crore in cash, and the filing gives it as the company's normal course of business. The filing does not say whether the agreement has been signed, what valuation the price implies, or why the company is adding to an unlisted holding; the amount and dates of the earlier subscription are also not given.
The next step in the filing is the agreement itself, with completion indicated within 30 days.
Filed with BSE on . Reference: Original filing (PDF)
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