Nettlinx Limited announced a private placement of up to 1,075,000 convertible warrants at a price of INR 90 per share for gross proceeds of INR 96,750,000 on October 7, 2022. The transaction will include participation from new investors, Rohith Loka Reddy for 625,000 warrants, Kajal Maurya for 100,000 warrants, Pradeep Kumar Singh for 100,000 warrants, Shilpi Pandey for 100,000 warrants, Suresh Sharma for 50,000 warrants and Wasim Hanif Diwan for 100,000 warrants. Each warrant shall carry a right to subscribe one equity share per warrant, which may be exercised in one or more tranches during the period commencing from the date of allotment of warrants until the expiry of I8 months from the date of allotment of the warrants The shares will be issued through preferential allotment method.

The transaction has been approved by the board of directors of the meeting. The transaction is subject to approval from extraordinary general meeting.