VMPL
Hyderbad (Telangana) [India], February 4: 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 Rs85 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 Rs10 at an issue price of Rs85 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.
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