The Hindu Business Line : Nettlinx to enter media business

Hyderabad March 26 Nettlinx Ltd, a company listed on the Bombay Stock Exchange, has on Monday received the approval to enhance capital and issue preferential warrants to promoters and investors. It has also announced plans to enter the media and entertainment space.

At the company's extraordinary general meeting on Monday, it was decided to issue preferential warrants at a premium of Rs 20 per warrant, amounting to Rs 30 per warrant.

The investors who have been given the preferential offer will have to pay 10 per cent of the value, i.e. Rs 3 per warrant at the time of subscription and the balance at the time of conversion of the warrant to an equity share. With this approval the company's authorised capital becomes Rs 20 crore.

The growing opportunities in media and entertainment has prompted NettLinx to explore the opportunity of a regional business channel, according to Mr Vijay Bhasker Reddy, Executive Director of the company.

Niche-channel market

He said with this the company will get into the next league and will be able to deliver better share-owner value. Niche channels are fast drawing another segment that offers tremendous opportunities, Mr Reddy said in a press release.

NettLinx wishes to use its infrastructure as well as the management expertise that it had acquired to explore new business. It intends to foray into the space of content delivery in multiple streams — TV, Internet and IPTV — in a niche segment, and address regional language needs.

Early movers in establishing media marketplaces will have a significant advantage, said Dr Loka Manohar Reddy, who is also the Founder Director of the company.

More Stories on : Preferential Allotments | Entertainment & Leisure

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