**Nexome Capital Markets Limited** (formerly **SMIFS Capital Markets Limited**) is a **Kolkata-based** financial services firm established in **1983**. A **SEBI-registered Category-I Merchant Banker** and Underwriter, the company is currently undergoing a strategic transformation characterized by a comprehensive rebranding, capital infusion, and the expansion of its wealth management and advisory footprint. --- ### **Strategic Rebranding and Corporate Identity Evolution** Effective **April 17, 2025**, the company transitioned its identity from **SMIFS Capital Markets Limited** to **Nexome Capital Markets Limited**. This change is part of a broader initiative to unify all group activities under the **"NEXOME"** brand. Key organizational shifts include: * **Geographic Expansion:** Opened a new strategic branch office in **Ceejay House, Worli, Mumbai** (effective **September 1, 2025**) to enhance its presence in India’s financial hub. * **Exchange Rationalization:** The company successfully completed a **Voluntary Delisting** from the **Calcutta Stock Exchange (CSE)** on **January 9, 2026**, to streamline compliance costs while maintaining its primary listing on the **BSE Limited**. * **Promoter Reclassification:** Following the resignation of **Mr. Ajay Kumar Kayan** in **May 2025**, the company initiated the reclassification of the **Ajay Kumar Kayan Group** from 'Promoter' to 'Public' category. --- ### **Core Business Verticals and Service Offerings** Nexome operates a diversified financial services model across several high-value segments: * **Merchant Banking & Capital Markets:** Management of public and rights issues, prospectus preparation, underwriting, and private placements. * **Corporate Advisory:** Specialized services for Mergers & Acquisitions (M&A), demergers, and corporate restructuring. * **Financial Services & Treasury:** Debt syndication, project finance, and active trading in government securities, shares, commodities, and derivatives. * **Wealth Management:** A newly prioritized vertical focused on investment advisory and fixed deposit mobilization. * **Compliance Consultancy:** Providing regulatory advisory services to corporate clients. --- ### **Corporate Structure and Subsidiary Ecosystem** The company delivers its services through the parent entity and two specialized wholly-owned subsidiaries: | Entity | Relationship | Primary Business Focus | | :--- | :--- | :--- | | **Nexome Capital Markets Ltd** | Parent Company | Merchant Banking, Underwriting, and Securities Trading. | | **Nexome Capital Services Ltd** | Wholly Owned Subsidiary | Corporate Advisory and Fixed Deposit Mobilization. | | **Nexome Wealth Management Ltd** | Wholly Owned Subsidiary | **Inc. July 22, 2025**; Wealth Management and Investment Advisory. | --- ### **Capital Restructuring and Fundraising Initiatives** To meet enhanced regulatory requirements and fund growth, Nexome has executed several capital-raising rounds: * **Rights Issue (March 2026):** Raised **₹22.04 crore** (oversubscribed at **100.79%**). Issued **29,38,500** shares at **₹75** (including a **₹65** premium). * **Preferential Allotment (Oct/Nov 2024):** Allotted **2,92,000** Equity Shares and **19,20,000** convertible warrants at **₹64** per share. * **Fund Utilization Strategy:** * **₹15.75 crore** deployed into listed/unlisted shares and special situations. * **₹2.78 crore** allocated to Liquid Mutual Funds/G-Secs to meet the **Liquid Net Worth** mandates of the **SEBI Merchant Bankers (Amendment) Regulations, 2025**. * **₹5.4 crore** (25% of proceeds) reserved for general corporate purposes and working capital. --- ### **Financial Performance and Metrics** The company has seen a significant increase in its net worth and market capitalization, despite fluctuations in year-on-year profitability. | Key Metric | FY 2024-25 | FY 2023-24 | | :--- | :--- | :--- | | **Profit Before Tax (PBT)** | **₹2.06 Crore** | **₹3.29 Crore** | | **Net Worth** | **₹154.76 Crore** | **₹129.60 Crore** | | **Market Capitalization** | **₹43.60 Crore** | **₹27.76 Crore** | | **Net Asset Value (NAV) per Share** | **₹186.15** | **₹190.18** | | **Basic EPS (₹)** | **2.04** | **4.31** | | **Price Earnings (P/E) Ratio** | **35.84** | **11.50** | | **Return on Net Worth (RoNW)** | **1.07%** | **2.27%** | **Segment Revenue (9M FY24 Unaudited):** * **Capital Market Operations:** **₹226.61 Crore** (Result: **₹38.58 Lakhs**) * **Investment Banking:** **₹31.75 Lakhs** (Result: **₹31.75 Lakhs**) * **Other Income:** **₹4.92 Crore** --- ### **Governance and Management Leadership** The Board consists of **8 Directors**, including **4 Independent Directors**, ensuring a balanced governance structure. * **Chairman:** **Mr. Utsav Parekh** (Non-Executive). * **Managing Director:** **Mr. Kishor Shah** (Re-appointed until **March 31, 2027**). * **Joint Managing Director:** **Mr. Samarth Parekh** (Appointed **April 2025** for a **3-year** term). * **Promoter Influence:** Following the 2026 Rights Issue, **Lend Lease Company (India) Limited** increased its stake from **4.92%** to **16.46%**. Total Promoter Group holding stands at **46.35%**. --- ### **Risk Management and Compliance Framework** Nexome operates under a rigorous regulatory environment with specific focus on asset quality and cybersecurity. * **Cyber Resilience:** Implemented the **Cybersecurity and Cyber Resilience Framework (CSCRF)** effective **April 1, 2025**, as per SEBI mandates. * **Asset Quality Review:** In **FY2025-26**, the company recognized an **Expected Credit Loss (ECL)** on a specific loan and a **fair valuation loss** on its investment portfolio. * **Market Risk:** The fair value of quoted equity investments was **₹34.25 Crore** (March 2025). A **10%** market shift impacts equity by **₹3.42 Crore**. * **Legal Contingencies:** * A long-standing provision of **₹58.53 Lakhs** is held with the **City Civil Court-Bombay** with remote recovery prospects. * Ongoing income tax litigation for **A.Y. 2003-04** is pending in the **High Court, Kolkata**. * **Regulatory Oversight:** The company received warnings from **BSE** in **June 2025** regarding board composition (Regulations 17 and 18); management has since moved to ensure compliance to avoid "Z" group classification. * **Macro Factors:** Management is monitoring the impact of **four new Indian Labour Codes** and global trade shifts, including **US import tariffs** (announced **April 2025**) that may affect the broader Indian economy.