Hyderabad , 4th February , 2025: Nettlinx Limited, a leading player in the internet infrastructure
and services sector, has announced that its Board of Directors has approved a
preferential issue of warrants amounting to ₹85 crore. The decision was made
during the board meeting held on February 3, 2025.
As per the
approved plan, the company will issue up to 1,00,00,000 (One Crore) warrants,
each convertible into or exchangeable for one fully paid-up equity share of ₹10
at an issue price of ₹85 per share. The preferential allotment will be made to
identified non-promoter investors in accordance with SEBI (Issue of Capital and
Disclosure Requirements) Regulations, 2018.
The issuance is structured as follows: 25%
of the warrant issue price will be paid upfront at the time of subscription and
allotment.
The remaining 75% will be payable upon the
exercise of warrants, which can be done in one or more tranches within 18
months from the date of allotment.
If the warrants are not exercised within
this period, they will lapse, and the upfront amount will be forfeited by the
company.
In addition to
approving the preferential allotment, the Board has decided to convene an
Extraordinary General Meeting (EGM) on March 5, 2025, to seek shareholder
approval for the issuance. The meeting will be held through video conferencing
and other audio-visual means.
To ensure
transparency, Nettlinx Limited has fixed February 26, 2025, as the cut-off date
for determining shareholder eligibility for e-voting. The EGM notice will be
made available on the company's official website (www.nettlinx.org)
and the stock exchanges (BSE – www.bseindia.com and MSEI – www.msei.in).
Commenting on
the development, Dr. Manohar Loka Reddy, Managing Director of Nettlinx Limited,
said, "This fundraising initiative is a strategic move to strengthen our
financial position and support the company’s growth objectives. The proceeds
will be utilized to accelerate business growth, infrastructure development, and
other corporate purposes. We are committed to delivering long-term value to our
stakeholders."
About Nettlinx Limited:
Nettlinx Limited
is a Hyderabad-based company engaged in providing high-quality internet infrastructure,
cloud solutions, and digital services. With a strong focus on innovation and
customer-centric solutions, Nettlinx continues to expand its presence in the
technology sector.