Progressive Star Finance Acquires Stake in Nexome Capital Markets Through Rights Issue
Progressive Star Finance Private Limited has acquired shares in Nexome Capital Markets Limited (formerly SMIFS Capital Markets Limited) through a rights issue, according to disclosures filed with the BSE Limited on March 26, 2026.The acquisition, which occurred on March 24, 2026, resulted in Progressive Star Finance holding 18,40,558 shares, representing 20.88% of Nexome Capital Markets’ equity share capital and 17.14% of the company's total diluted share/voting capital. Prior to the acquisition, Progressive Star Finance held 12,27,039 shares, equating to 20.88% of the share/voting capital and 15.74% of the diluted share/voting capital.
Progressive Star Finance is a promoter group of Nexome Capital Markets.
The equity share capital of Nexome Capital Markets before the rights issue was Rs. 5,87,70,000, which increased to Rs. 8,81,55,000 after the rights issue. The total diluted share/voting capital of the company post-acquisition is Rs. 10,73,55,000.
This acquisition is in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
| Name of the Acquirer and PAC | Progressive Star Finance Pvt Ltd |
|---|---|
| Whether the acquirer belongs to Promoter/Promoter group | Yes |
| Name(s) of the Stock Exchange(s) where the shares of TC are Listed | BSE Limited |
| Shares carrying voting rights acquired | 6,13,519 |
| % w.r.t. total share/voting capital | 6.96% |
| % w.r.t. total diluted share/voting capital | 5.71% |
| Shares carrying voting rights after acquisition | 18,40,558 |
| % w.r.t. total share/voting capital | 20.88% |
| % w.r.t. total diluted share/voting capital | 17.14% |
| Date of acquisition | March 24, 2026 |
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