Kamath Technology LLP Discloses Substantial Acquisition in Photon Capital Advisors Limited
Kamath Technology LLP acquired a 7.72% stake in Photon Capital Advisors Limited on May 05, 2026, through the purchase of 2,10,000 equity shares and 2,25,000 warrants. The equity capital of the target company increased from Rs. 1,51,36,940 to Rs. 2,72,06,940 as a result of the preferential allotment.
*this image is generated using AI for illustrative purposes only.
Kamath Technology LLP has submitted a disclosure to BSE Limited regarding a substantial acquisition of shares in Photon Capital Advisors Limited. The filing, made in compliance with Regulation 29(1) and 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, details the transaction that occurred on May 05, 2026. The acquirer, Nikhil Kamath, serving as the Designated Partner, confirmed the acquisition through an official letter addressed to the Corporate Relations Department of BSE Limited.
Details of the Acquisition
The acquisition involved the purchase of 2,10,000 equity shares carrying voting rights, which accounts for 7.72% of the total share capital and 4.46% of the total diluted share capital of Photon Capital Advisors Limited. Prior to this transaction, the acquirer held no shares or voting rights in the target company. The shares were acquired via preferential allotment.
Financial Breakdown
The following table summarizes the acquisition details and the resulting shareholding structure:
| Description | Number | % of Total Share Capital | % of Total Diluted Share Capital |
|---|---|---|---|
| Before Acquisition | |||
| Shares carrying voting rights | Nil | Nil | Nil |
| Encumbered shares | Nil | Nil | Nil |
| Voting rights otherwise than by shares | Nil | Nil | Nil |
| Warrants/convertible securities | Nil | Nil | Nil |
| Total Before Acquisition | Nil | Nil | Nil |
| Acquisition Details | |||
| Shares carrying voting rights acquired | 2,10,000 | 7.72 | 4.46 |
| Warrants/convertible securities acquired | 2,25,000 | NA | 4.78 |
| Total Acquisition | 4,35,000 | 7.72 | 9.24 |
| After Acquisition | |||
| Shares carrying voting rights | 2,10,000 | 7.72 | 4.46 |
| Encumbered shares | Nil | Nil | Nil |
| Voting rights otherwise than by shares | Nil | Nil | Nil |
| Warrants/convertible securities | 2,25,000 | NA | 4.78 |
| Total After Acquisition | 4,35,000 | 7.72 | 9.24 |
Capital Structure Changes
The acquisition has altered the equity share capital structure of Photon Capital Advisors Limited. Before the acquisition, the equity share capital stood at Rs. 1,51,36,940, divided into 15,13,694 equity shares of Rs.10 each. Following the transaction, the equity share capital increased to Rs. 2,72,06,940, divided into 27,20,694 equity shares of Rs.10 each. The total diluted share and voting capital post-acquisition is reported as Rs. 4,71,06,940, divided into 47,10,694 equity shares of Rs.10 each.
The disclosure confirms that Kamath Technology LLP does not belong to the promoter or promoter group of the target company. The shares of Photon Capital Advisors Limited are listed on BSE Limited under the scrip code 509084.
Will Kamath Technology LLP convert its 2,25,000 warrants into equity shares, and if so, how might this push its stake closer to the 10% threshold that triggers further SEBI takeover regulations?
Could this strategic investment signal Nikhil Kamath's broader intent to expand into the financial advisory and capital markets space, and are there likely to be follow-on acquisitions in similar firms?
How might Photon Capital Advisors Limited utilize the capital raised through this preferential allotment, and what impact could it have on the company's business growth and valuation?
19
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
