Description

Open offer by Arix Capital Limited and associates to acquire up to 26% voting share capital of Netlink Solutions (India) Limited at ₹201 per share.

Summary

Arix Capital Limited, Mrs. Kajal Gopal Baldha, and Mr. Punitbhai Bavanjibhai Lakkad (collectively “Acquirers”) have launched an open offer to acquire up to 6,57,599 equity shares representing 26% of the voting share capital of Netlink Solutions (India) Limited. The offer price is ₹201 per share (face value ₹10), including 10% per annum interest for delayed payment to public shareholders. This offer is triggered due to indirect acquisition and control over the target company, made in compliance with SEBI (SAST) Regulations 3(1), 4, and 5(1).

Key Points

  • Offer to acquire 6,57,599 shares (26% voting capital) of Netlink Solutions (India) Limited
  • Offer price: ₹201 per share (face value ₹10 per share)
  • Includes 10% per annum interest for delayed payment to public shareholders
  • Payment method: Cash
  • Triggered by indirect acquisition and joint-control over target company management
  • Not conditional upon minimum acceptance level
  • No differential pricing in the offer
  • Not a competing offer under SEBI regulations
  • Target Company CIN: L45200MH1984PLC034789
  • Registered office: 507, Laxmiplaza, Laxmi Industrial Estate, New Link Road, Andheri West, Mumbai, 400053

Regulatory Changes

This open offer is made pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, specifically Regulations 3(1), 4, and 5(1). The offer results from substantial indirect acquisition of shares in the holding company leading to joint-control over the target company.

Compliance Requirements

  • Public shareholders must review the Letter of Offer sent to them
  • Shareholders who recently sold equity shares should hand over the Letter of Offer to the stock exchange member through whom the sale was executed
  • Shareholders requiring clarification should consult stockbrokers, investment consultants, Manager, or Registrar
  • No statutory approvals currently required, but if needed before tendering period expiration, acquirers will apply for such approvals
  • If approvals apply to only some shareholders, acquirers may proceed with payment to those not requiring approvals

Important Dates

Tendering Period: To be specified (offer opening announced in circular dated January 23, 2026)

Impact Assessment

Market Impact: High - This is a significant takeover action affecting 26% of the company’s voting capital. Public shareholders have the opportunity to exit at the offer price of ₹201 per share.

Shareholder Impact: High - Public shareholders of Netlink Solutions (India) Limited must decide whether to tender their shares. The offer includes compensation for delayed payment at 10% per annum interest.

Control Impact: High - The acquirers are taking joint-control over the target company’s management through indirect acquisition, representing a significant change in corporate control structure.

Regulatory Impact: This transaction demonstrates compliance with SEBI’s mandatory open offer requirements under substantial acquisition regulations, ensuring public shareholder protection during change of control events.

Impact Justification

Mandatory open offer for 26% stake acquisition affecting public shareholders of listed company with regulatory compliance under SEBI SAST Regulations