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Business EconomyPosted at: Feb 3 2025 3:17PM


Nettlinx Ltd Board Approves ₹85 crore fundraising via Preferential Issue of warrants

Hyderabad, Feb 3 (UNI) Nettlinx Limited, a leading player in the internet infrastructure and services sector, on Monday announced that its Board of Directors has approved a preferential issue of warrants amounting to ₹85 crore.
The decision was taken at the board meeting held on Monday .
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 Hyderabad based company said in a release here.
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 including 25 percent of the warrant issue price will be paid upfront at the time of subscription and allotment while the remaining 75 percent 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 also 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.
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."
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