As per attached annexure.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Netlink Solutions has received a request from two of its existing promoters, Mr. Minesh V Modi and Mrs. Rupa Minesh Modi, seeking reclassification from the 'Promoter Category' to the 'Public Category' under SEBI Listing Regulations. This follows a Share Purchase Agreement dated April 9, 2025, under which M/s Arix Capital Limited acquired 51% of Jupiter Infomedia Limited (Netlink's holding company), resulting in an indirect change of control over Netlink Solutions and triggering a mandatory open offer. After the takeover and change in management, the two promoters no longer hold more than 10% of the voting rights and have no control or board representation in the company. They have confirmed they are not willful defaulters or fugitive economic offenders and undertake to comply with all reclassification conditions for at least three years.
This signals a fundamental shift in ownership and control of Netlink Solutions, with new promoters (Arix Capital-led acquirers) effectively taking over the company. The outgoing promoters' combined stake has dropped below 10%, meaning retail shareholders should expect a new management direction going forward. The reclassification, once approved by the stock exchanges, will reduce the promoter group holding to near-zero, potentially affecting how the stock is perceived by institutional and retail investors tracking promoter integrity.