LETTERS RECEIVED FROM FROM PROMOTERS FOR RECLASSIFICATION
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Nexome Capital Markets Ltd (formerly SMIFS Capital Markets Ltd) has received reclassification requests from 8 individuals/entities currently classified as promoters or promoter group, asking to be moved to the public shareholder category under SEBI's Listing Regulations. These include Mr. Ajay Kumar Kayan, Mrs. Lalita Kayan, Mr. Rahul Kayan, Mrs. Payal Saraf, Mrs. Suman Bhartia, Ajay Kumar Kayan HUF, Gauri Shankar Ajay Kumar HUF, and Mackertich Consultancy Services Pvt Ltd. Of these, only Mackertich Consultancy actually holds shares — 5,57,200 shares representing 9.48% of paid-up capital — while the other 7 hold zero shares directly. All applicants state they have no board representation, no control over company affairs, no special rights, and are not wilful defaulters or fugitive economic offenders. The combined promoter group holding is just 9.48% of the company, well below the 10% threshold.
If approved by the stock exchanges, Nexome Capital Markets will effectively have no identifiable promoter group, making it a largely widely-held company. This is a notable governance shift that could reduce concentrated control but may also remove the stability typically associated with a defined promoter. Shareholders should watch for the exchanges' approval timeline, as the reclassification requires SEBI/exchange consent.