Synopsis:
Elcid Investments to invest Rs. 7.5 crore in Zepto via CCPS, acquiring a 0.039 percent stake. Deal expected to close in 25 days, as per the latest BSE filings.
During Tuesday’s trading session, shares of a non-banking financial company (NBFC) registered with the RBI under the category of Investment Company are in focus on the BSE, after the company announced investing nearly Rs. 7.5 crores in Zepto Private Limited.
At 11:50 a.m., shares of Elcid Investments Limited were trading in the red at Rs. 1,32,010 on BSE, down by nearly 1 percent, as against its previous closing price of Rs. 1,33,316.2, with a market cap of Rs. 2,640 crores. The stock has delivered negative returns of around 44 percent in the last one year, but has gained by about 2 percent in the last one month.
What’s the News
According to the latest regulatory filings on the BSE, Elcid Investments Limited has entered into an agreement to invest in Zepto Private Limited (formerly known as Kiranakart Technologies Private Limited), by subscribing to its Compulsory Convertible Preference Shares (CCPS).
The company plans to invest up to Rs. 7.5 crores, subscribing to the CCPS with a face value of Rs. 5 each, representing on a fully diluted basis 22,55,639 equity shares of the company at Rs. 33.23 per share.
Upon completion, the final aggregate shareholding of Elcid Investments will amount to a modest 0.039 percent of the share capital of Zepto. The acquisition is expected to be finalised within 25 days.
Zepto is an Indian quick-commerce platform known for its 10-minute grocery delivery service. Founded in 2021 by Stanford dropouts Aadit Palicha and Kaivalya Vohra, it operates in multiple Indian cities and offers a wide range of products, including fresh produce, daily essentials, and more.
Financials & more
Elcid Investments reported a decline in financial performance in Q4 FY25, with revenue from operations declining from Rs. 23 crores in Q4 FY24 to a negative Rs. 17 crores.
Similarly, the company also swung to a net loss of Rs. 20 crore during the quarter, compared to a net profit of Rs. 16 crore in the corresponding period of the previous fiscal.
Elcid Investments Limited is a Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI), engaged in the business of making investments in shares, debentures, mutual funds and more.
Written by Shivani Singh
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