Leading Leasing Finance Boosts Aqylon Nexus Stake to 11.72%

Leading Leasing Finance and Investment Company Limited has acquired an additional 20,02,000 shares in Aqylon Nexus Limited. This represents a 0.79% stake.
The transaction brings Leading Leasing Finance's total holding in Aqylon Nexus to 2,97,37,174 shares, making up 11.72% of the company's equity share capital.

Recent Share Purchase

Leading Leasing Finance and Investment Company Limited, also known as LLFIL, has increased its shareholding in Aqylon Nexus Limited. Aqylon Nexus was formerly named Sri Adhikari Brothers Television Networks Limited (SABTNL).

The acquisition of 20,02,000 equity shares on March 28, 2026, raises LLFIL's stake from its previous 11.35% (2,87,89,553 shares) to the new total of 11.72% (2,97,37,174 shares).

This move is a regulatory filing under India's rules for substantial acquisitions, indicating a deliberate stake increase by the financier.

Strategic Significance

This acquisition signals continued strategic interest from Leading Leasing Finance, a non-banking financial company (NBFC), in Aqylon Nexus. Aqylon Nexus is currently undergoing a significant business transformation, pivoting from media to technology.

Under regulations for substantial share acquisitions, such increases in holding require disclosure and adherence to specific takeover norms. This can indicate a strategic investment or a potential for greater influence.

Aqylon Nexus's History and Pivot

Aqylon Nexus, originally Sri Adhikari Brothers Television Networks Ltd. (SABTNL), has a long history in India's media and entertainment sector. Founded in 1985, it was listed in 1995 and was known for content production and broadcasting, including the popular 'SAB TV' channel.

However, the company has faced considerable financial challenges. This included an Insolvency Resolution Process approved by the National Company Law Tribunal (NCLT) in December 2023, which was successfully implemented in May 2025. During this period, credit ratings were withdrawn due to non-cooperation with rating agencies.

In a significant strategic shift, SABTNL rebranded to Aqylon Nexus Limited in January 2026, signaling a pivot toward technology. The company's new focus includes AI, space systems, and semiconductors. This transformation follows a period where promoter holdings were consolidated, reaching stable levels around 59.22% by March 2025 after an Open Offer.

Leading Leasing Finance, as a non-banking financial company (NBFC), operates by investing in and trading securities of other companies. Such stake-building activities are part of its operational mandate.

Impact of the Stake Increase

Leading Leasing Finance's stake in Aqylon Nexus has grown, reinforcing its position as a significant public shareholder.

This latest acquisition means Aqylon Nexus's total equity share capital now stands at 25,37,30,560 shares.

The transaction is subject to SEBI's substantial acquisition regulations, which mandate specific disclosures and adherence to rules for investors increasing their holdings.

Key Risks for Investors

Aqylon Nexus currently has a 'Strong Sell' rating from MarketsMojo as of March 2026. This rating highlights significant concerns, including high debt levels with a Debt-to-Equity ratio of 10.91x, weak interest coverage, and a very expensive valuation.

The company's stock has seen severe price declines and multiple lower circuit hits in March 2026, significantly underperforming the broader market.

Concerns also persist regarding financial reporting. The company previously faced queries from the stock exchange regarding its failure to submit consolidated financial results in December 2025.

Furthermore, promoters of Aqylon Nexus had pledged 16.67% of their shares as of December 2025.

Company Comparisons

Aqylon Nexus is operating in a transition phase, shifting from Media & Entertainment to Technology. Its historical peers in the media sector include companies like Balaji Telefilms and Panorama Studios International.

Meanwhile, Leading Leasing Finance, as an NBFC, competes with other finance companies such as Explicit Finance Ltd and Supra Pacific Financial Services Ltd.

Key Stakeholding Figures

Aqylon Nexus's promoter holding remained stable at 59.22% as of March 2025, following the completion of an Open Offer.

Prior to the latest acquisition, Leading Leasing Finance held 11.35% of Aqylon Nexus.

Looking Ahead

Investors will be tracking future disclosures from Leading Leasing Finance regarding any further stake changes in Aqylon Nexus.

Crucially, Aqylon Nexus's ability to successfully execute its technology pivot and improve its financial health will be key.

Further regulatory updates or compliance requirements from SEBI concerning Aqylon Nexus will also be important.

Finally, the market's reaction to Aqylon Nexus's financial performance and management strategy post-transformation will be closely watched.