Sri Adhikari Brothers plans name change to Aqylon Nexus; proposes 50 MW AI data centre in Telangana

Sri Adhikari Brothers Television Network Ltd said on Monday that its board has approved a proposal to change the company’s name to “Aqylon Nexus Limited” or another name cleared by the Ministry of Corporate Affairs’ CRC.

The board has also decided to withdraw its in-principle approval applications submitted to the BSE and NSE for the proposed issuance of 1.5 crore equity shares and 6.80 crore convertible warrants.

In a separate development, the company’s director has proposed setting up a 50 MW AI and green data centre campus in Telangana, aimed at creating a strategic sovereign compute platform to support the country’s ambitions in AI, as well as digital governance, defence, enterprise and archival infrastructure.

This development comes after Sera Investment Finance India Ltd sold 200,000 shares of Sri Adhikari Brothers Television Network Ltd (SABTNL), reducing its holding by 0.80%. The investor’s stake declined from 19.71% in September 2025 to 18.91% following the transaction.

The stake sale follows a series of leadership exits at SABTNL amid a management overhaul triggered by an ongoing open offer. Last week, six board members resigned, including Managing Director Kailasnath Markand Adhikari and Chairman & Non-Executive Director Ravi Gautam Adhikari.

Independent directors Pritesh Rajgor, Dr. Ganesh Prasad Raut, Umakanth Bhyravajoshyulu, and non-executive director Latasha Laxman Jadhav also stepped down. The company said the board has accepted the resignations and the changes are now effective.

The restructuring is linked to an open offer launched by Grow House Wealth Management Pvt. Ltd, on behalf of Kurjibhai Premjibhai Rupareliya and Leading Leasing Finance and Investment Company Ltd (LLFICL), to acquire up to 53,46,238 equity shares, representing 13.24% of SABTNL’s emerging voting share capital.

The transition began in June when promoter entity Ruani Media Service Ltd sold 1.5 crore equity shares, or 59.12% of the company’s existing equity capital, to Kurjibhai Rupareliya, marking a major ownership shift at the broadcaster.