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Awaiting price reaction for this filing.
Nettlinx Ltd's Board, on May 27, 2025, approved selling its entire stake in material subsidiary Sri Venkateswara Green Power Projects Ltd (SVGREEN) for a total consideration of about Rs. 8.40 crore. The sale covers 1.29 crore equity shares held jointly by Nettlinx (1.26 crore shares) and Nettlinx Realty (4.05 lakh shares), and will be bought by five unrelated parties including IRA Homes LLP and its affiliates. The Board framed this as an exit from non-core businesses to strengthen the balance sheet and enhance shareholder value. Share Purchase Agreement is targeted by July 31, 2025, with sale completion by August 31, 2025, subject to shareholder approval via postal ballot. SVGREEN contributed only 0.02% to consolidated revenue but 17.73% (Rs. 11.07 crore) to consolidated net worth as of March 31, 2025.
The divestment removes a non-core asset from Nettlinx's books and brings in ~Rs. 8.40 crore of cash, but also removes a chunk of net worth (~17.7%) from the consolidated entity. Short-term stock reaction may be neutral-to-positive if investors view it as portfolio simplification, though the relatively small revenue contribution limits operational impact.