Netlink Solutions India Ltd. Announces Board Changes Following Open Offer Completion
Mumbai – March 26, 2026 – Netlink Solutions (India) Ltd. announced several changes to its board of directors and a reclassification of promoters following the completion of an open offer and subsequent changes in management and control.The changes stem from an open offer made by Arix Capital Limited, Mrs. Kajal Gopal Baldha, and Mr. Punitbhai Bavanjibhai Lakkad for the acquisition of 26.00% of the voting share capital of Netlink Solutions (India) Ltd. This open offer was triggered by the acquisition of 51.00% of the paid-up equity share capital of its holding company, Jupiter Infomedia Limited, by the acquirers.
As a result of the completed open offer, the change in management and control of Netlink Solutions (India) Ltd. was finalized on March 26, 2026.
Resignations of Whole-Time Directors
The Board of Directors accepted the resignations of Mr. Minesh Vasantlal Modi (DIN: 00378378), Whole-Time Director and Director, and Mrs. Rupa Minesh Modi (DIN: 00378383), Whole-Time Director (designated as Executive Director) and director, effective March 26, 2026. Their resignations are attributed to the change in management and control. With these resignations, Mr. Modi and Mrs. Modi no longer hold any direct or indirect control or management over the affairs of the Company.
Reclassification of Promoter to Public Category
Mr. Minesh Modi and Mrs. Rupa Modi, the erstwhile promoters, have requested reclassification from the 'Promoter' category to the 'Public' category. This request aligns with disclosures made in the offer documents for the open offer of both the Company and the Holding Company. The Board of Directors approved this reclassification, pending approval from the Stock Exchange.
The Board of Directors meeting took place on March 26, 2026, commencing at 3:00 p.m. and concluding at 3:30 p.m.
Table: Resignation Details
| Sr. No. | Particulars | Mr. Minesh Vasantlal Modi (DIN: 00378378) | Mrs. Rupa Minesh Modi (DIN: 00378383) |
|---|---|---|---|
| 1 | Reason for change | Resignation due to change in management and control | Resignation due to change in management and control |
| 2 | Date of cessation | March 26, 2026 | March 26, 2026 |
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