Netlink to sell assets, pivot to tungsten after Arix Capital takeover
The nano-cap IT firm with ₹4.81 lakhs in revenue wants to become a tungsten manufacturer. Its Mumbai office and two cars are going on the block.
What's new
- Netlink's board approved selling its Mumbai office and two cars, adding a tungsten manufacturing business, and moving its registered office to Gujarat.
- Shareholders will vote on the overhaul at an EGM on June 9.
- The company, recently acquired by Arix Capital, reported just ₹4.81 lakhs in annual revenue.
Why this matters
This is a nano-cap with almost no revenue attempting to rewrite its corporate purpose entirely. The plan requires shareholder approval and regulatory sign-off, but the proposal itself signals Arix Capital's intent to use the listed shell for an industrial pivot. The scale of the shift, from ₹4.81 lakhs in IT revenue to a manufacturing play, makes it one of the most extreme strategic reorientations in recent memory.
What we're watching
- Shareholder vote at the June 9 EGM.
- Any regulatory hurdles to adding a new manufacturing object clause.
- Financial details on the proposed tungsten business.
The full read
Arix Capital is turning a nano-cap IT firm into a tungsten manufacturer. Netlink Solutions, which reported just ₹4.81 lakhs in annual revenue, has board approval to sell its Mumbai office and two cars, add a tungsten carbide manufacturing business, and relocate its registered office to Gujarat. Shareholders vote on June 9. The proposal is a fundamental rewrite of the company's purpose, executed immediately after the acquisition. For a firm with negligible revenue, the plan represents a bet that the listed shell has more value as an industrial vehicle than as a dormant IT company. The lack of any financial detail on the tungsten venture makes the proposal more aspiration than business plan.
Questions answered
- What exactly is Netlink proposing to do?
- The board has approved selling its Mumbai office and two company cars, adding a tungsten carbide manufacturing business to its corporate charter, and moving its registered office from Maharashtra to Gujarat.
- Why is such a drastic move happening now?
- The company was recently acquired by Arix Capital. The new management, now based in Gujarat, says the asset sale aligns with the planned relocation and the pivot to an industrial materials focus.
- How big is Netlink's current business?
- It's tiny. The company reported annual revenue of just ₹4.81 lakhs, making it a nano-cap with negligible operations in its current IT business.
- What needs to happen for this plan to proceed?
- The proposals require shareholder approval at the June 9 EGM. They will also need regulatory clearance to amend the company's object clause to include manufacturing activities.