The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Progressive Star Finance Pvt Ltd & PACs
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On the reaction day the stock moved 2.8 pts less than Nifty Microcap 250 and 2.5 pts less than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Progressive Star Finance Pvt Ltd, along with its PACs (Utsav Parekh, Nilangi Parekh, Stewart Investment and Financial Pvt Ltd, and Lend Lease Company India Ltd), acquired 26,903 equity shares of Nexome Capital Markets Ltd through open market purchases on December 30, 2025. As a result, their aggregate voting shareholding in the company rose from 15.21% to 20.64% of the total share/voting capital. The acquisition was disclosed under Regulation 29(2) of the SEBI Takeover Regulations, indicating a creeping acquisition by what appears to be the promoter/promoter group. The acquirer's holding now stands at 12,12,654 shares, placing them within striking distance of the 25% open offer trigger threshold under takeover norms.
This is a positive signal indicating promoter group confidence, but also flags creeping acquisition risk as the combined holding has moved closer to the 25% takeover trigger threshold, which if crossed would require an open offer to public shareholders. Retail investors should monitor further acquisitions closely.