Arix Capital Limited and its associates have successfully concluded their mandatory open offer for Netlink Solutions (India) Limited, with the post-offer public announcement published on February 25, 2026. The offer received a subscription rate of 44.66%, with shareholders tendering 2,93,627 shares against the targeted 6,57,599 shares.

Open Offer Performance

The open offer, conducted from January 28, 2026, to February 10, 2026, was priced at ₹201.00 per share, including 10.00% per annum interest for delayed payments. The actual consideration paid amounted to ₹5,90,19,027.00, substantially lower than the maximum anticipated consideration of ₹13,21,77,399.00.

Acquisition Structure

The mandatory open offer was triggered through an indirect acquisition route. Arix Capital Limited entered into a Share Purchase Agreement with existing promoters of Jupiter Infomedia Limited, the holding company of Netlink Solutions, to acquire 51,10,000 equity shares representing 51.00% of Jupiter Infomedia's voting share capital at ₹50.00 per share for a total consideration of ₹25,55,00,000.00.

Shareholding Pattern Changes

The acquisition has resulted in significant changes to Netlink Solutions' shareholding structure. The acquirers' combined holding increased from 0.31% to 11.92% of the voting share capital post-offer.

Regulatory Compliance

The open offer was conducted in compliance with SEBI (SAST) Regulations, with Swaraj Shares and Securities Private Limited serving as the Manager to the Offer and Integrated Registry Management Services Private Limited as the Registrar. The consideration payment was completed on February 16, 2026, as scheduled.

Future Plans

The acquirers have indicated their intention to apply for classification as promoters of Netlink Solutions alongside existing promoters, in accordance with SEBI (LODR) Regulations. This move will formalize their enhanced role in the company's governance structure following the successful acquisition of control through the parent company route.

Netlink solutions is subject to an open offer by Arix Capital Limited and its associates for acquisition of 26% voting share capital, with the company's independent directors recommending the offer as fair and reasonable to shareholders.

Open Offer Details

Arix Capital Limited, Mrs. Kajal Gopal Baldha, and Mr. Punitbhav Bavanjibhai Lakkad have collectively announced an open offer for acquisition of up to 6,57,599 offer shares representing 26.00% of the voting share capital of Netlink Solutions (India) Limited. The offer has been made in compliance with SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.

Underlying Transaction Structure

The open offer was triggered through an indirect acquisition mechanism. Arix Capital Limited entered into a Share Purchase Agreement with existing promoters of Jupiter Infomedia Limited, the holding company of Netlink Solutions. The transaction involves acquisition of 51,10,000 fully paid-up equity shares of Jupiter Infomedia Limited, constituting 51% of its voting share capital, at ₹50.00 per share for an aggregate consideration of ₹25,55,00,000.

Following this acquisition, Jupiter Infomedia Limited will be directly owned by the acquirers, resulting in indirect acquisition of voting rights and control over Netlink Solutions (India) Limited as its subsidiary company.

Independent Directors' Recommendation

The Committee of Independent Directors, comprising Mr. Pankaj Vrajil Sodha as Chairman, Mr. Manoj Ashok Pardhee, and Mr. Kaushal Shambhu Ameta as members, has unanimously approved and recommended the open offer. The committee reviewed multiple offer documents including the Public Announcement dated May 06, 2025, Detailed Public Statement dated May 12, 2025, Draft Letter of Offer dated September 22, 2025, and the Letter of Offer dated January 16, 2026.

Regulatory Compliance and Timeline

The offer price of ₹201.00 per share has been determined in accordance with Regulations 8(1) and 8(2) of the SEBI (SAST) Regulations. The Committee of Independent Directors confirmed that none of the members have any relationship with the acquirers or have traded in the company's equity shares from the date of public announcement until the recommendation date.

The recommendations were published on January 23, 2026, in Financial Express (English daily), Jansatta (Hindi daily), and Mumbai Lakshdeep (Marathi Daily) as required under Regulation 26(7) of the SEBI (SAST) Regulations. The independent directors advised public shareholders to independently evaluate the offer and review the Letter of Offer dated January 16, 2026, including associated risk factors, before making investment decisions.