Netlink Solutions (India) Ltd. has announced significant board changes following its meeting on March 10, 2026, approving the appointment of two new directors and sanctioning a substantial inter-corporate loan facility. These decisions come as part of an ongoing change in control and management structure following an open offer by multiple acquirers.

Director Appointments Following Open Offer

The board approved the appointment of two new directors based on recommendations from the Nomination and Remuneration Committee. The appointments are directly linked to an open offer made by three acquirers - Arix Capital Limited, Mrs. Kajal Gopal Baldha, and Mr. Punithbai Bavanjibhai Lakkad - for acquisition of 26.00% of the company's voting share capital under SEBI takeover regulations.

Both appointments are subject to shareholder approval and the directors will hold office until the ensuing General Meeting. Mrs. Kajal Baldha has been appointed as Whole-Time Director for a term of up to five years, representing one of the acquirers in the open offer process.

Professional Background of New Directors

Mr. Viren Bakraniya

Mr. Bakraniya brings over four years of professional experience in finance, taxation, and financial planning. As a Chartered Accountant and member of the Institute of Chartered Accountants of India, he has previously worked with Reliance Industries Limited and Ernst & Young. His expertise spans financial analysis, corporate and international taxation, and strategic financial management. He currently serves as a Director at Arix Capital Limited since January 2025 and holds a Bachelor of Commerce degree from Saurashtra University.

Mrs. Kajal Baldha

Mrs. Kajal Baldha possesses over 10 years of experience in services, advisory, and consultancy businesses. Her expertise encompasses business strategy, corporate advisory, and financial management, with active involvement in formulating and implementing business strategies for growth and operational efficiency. She has been associated with Arix Capital Limited as a Director since April 2019, overseeing strategic initiatives and corporate finance activities. She holds a Bachelor of Science degree from Veer Narmad South Gujarat University.

Inter-Corporate Loan Facility Approved

The board has sanctioned inter-corporate loans to entities as determined from time to time, subject to specific parameters and regulatory compliance.

The facility provides flexibility for the company to extend loans within the approved limit, with terms and conditions to be determined by the Board of Directors or authorized personnel from time to time.

Regulatory Compliance and Disclosures

The company has confirmed that both newly appointed directors are not debarred from holding directorial positions by SEBI or any other regulatory authority. The appointments have been made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follow the prescribed disclosure requirements under Regulation 30. The board meeting commenced at 6.15 p.m. and concluded at 7.00 p.m. on March 10, 2026, with all decisions taken based on committee recommendations where necessary. The appointments represent the acquirers on the board and are part of the broader change in control and management structure of the company.

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.