Lend Lease India Increases Nexome Capital Stake to 16.46% Post Rights Issue

Lend Lease Company (India) Limited has significantly boosted its voting shareholding in Nexome Capital Markets Limited to 16.46% by participating in a recent Rights Issue. This move marks a substantial increase from its prior holding and strengthens Lend Lease's position within Nexome Capital, which also saw its equity share capital expand from ₹5.88 crore to ₹8.82 crore.

Transaction Details

Lend Lease Company (India) Limited acquired 11,61,988 equity shares in Nexome Capital Markets Limited via the Rights Issue. Following this transaction, Lend Lease's voting shareholding in Nexome Capital stands at 16.46%, a notable rise from its previous 4.92%. Its diluted shareholding also increased from 3.71% to 13.52%. Nexome Capital Markets Limited's equity share capital grew from ₹5.88 crore to ₹8.82 crore, with its total diluted share capital reaching ₹10.74 crore. This disclosure, made on March 26, 2026, followed the acquisition on March 24, 2026, and complies with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Strategic Significance

This acquisition represents a considerable shift for Lend Lease, elevating it from a minority investor to a more influential shareholder in Nexome Capital. The increased shareholding signals greater potential influence and strategic alignment between the two companies, driven by the recent capital infusion. Under SEBI SAST Regulations, crossing certain shareholding thresholds requires disclosures and can lead to further obligations if control levels are approached.

Company Background

Lend Lease Company (India) Limited and its associated persons had previously raised their collective shareholding in Nexome Capital Markets Limited to 4.91% through open market purchases on December 31, 2025. This latest acquisition via a rights issue represents a substantial jump from that previous holding, indicating a deliberate strategy to increase exposure in Nexome Capital. Nexome Capital Markets Limited, formerly SMIFS Capital Markets, operates as a financial services firm involved in merchant banking and capital market activities.

Impact of the Stake Increase

Lend Lease Company (India) Limited now holds a significantly larger stake, increasing its potential influence over Nexome Capital's strategic direction. The acquisition triggers reporting requirements under SEBI's takeover regulations, ensuring market transparency. Meanwhile, Nexome Capital Markets has successfully raised fresh capital through the rights issue, bolstering its balance sheet for future operations and signaling a deepening investment focus by Lend Lease within India's financial services sector.

Industry Context

Nexome Capital Markets functions as a Category I Merchant Banker, involved in M&A and capital raising activities. While direct peers for this specific stake-building transaction are limited, the broader Indian financial services landscape includes entities like Centrum Capital and SMC Global Securities, which operate in related segments such as investment banking and broking.

Financial Snapshot

Nexome Capital Markets Limited's revenue contracted, experiencing a Compound Annual Growth Rate (CAGR) of -81% in the last year ending March 31, 2025. For comparison, Lend Lease Company (India) Limited reported revenue of ₹132 crore for the financial year ending March 31, 2025.

Future Watchlist

Investors and observers will be monitoring any further stake adjustments by Lend Lease Company (India) Limited in Nexome Capital. Nexome Capital's strategic initiatives and financial performance post-rights issue and increased shareholding will be key to watch. Compliance with SEBI SAST regulations for any future threshold triggers will also remain important, alongside broader market trends and investor sentiment towards strategic investments in financial services companies.