pbn notice 2025
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Nettlinx Limited has issued a Postal Ballot Notice for three special resolutions to be voted on by shareholders via e-voting from May 30, 2025 to June 28, 2025, with results due by June 30, 2025. The first resolution seeks approval to sell the company's entire 57.78% stake (1,29,99,923 equity shares) in material subsidiary Sri Venkateswara Green Power Projects Limited to IRA Homes LLP and four individual buyers for a total consideration of approximately Rs. 8.40 crores, based on an independent valuation report dated May 27, 2025. The second resolution seeks shareholder approval to formally appoint Mr. Amarender Reddy Bandaru as Non-Executive Independent Director for a five-year term from May 10, 2025 to May 9, 2030. The third resolution seeks approval to appoint Mr. Rohith Loka Reddy as Managing Director for a five-year term at an annual salary of Rs. 18 lakhs.
The subsidiary divestment will bring in roughly Rs. 8.4 crores of liquidity and reduce Nettlinx's exposure to the power business, with management citing balance sheet strengthening and growth funding as benefits. The board appointments formalize leadership continuity. Shareholders should review the divestment valuation and consider voting before the June 28, 2025 deadline.