Approved the Issue of up to 25,00,000 (Twenty-Five Lakhs) equity shares of face value of INR 10/- each, on a preferential basis to strategic investors in public category, pursuant to the ....
Awaiting price reaction for this filing.
Clenon Enterprises (formerly G.R. Cables) announced that its board, meeting on November 14, 2025, approved two items. First, a preferential issue of up to 25,00,000 equity shares (face value INR 10 each) to strategic investors in the public category, carried out under a Resolution Plan approved by the NCLT Hyderabad Bench in March 2023. Second, the company reported its Q2 FY26 unaudited results: revenue from operations of just INR 48.67 lakhs, down sharply from INR 138.74 lakhs in the year-ago quarter, and a net loss of INR 58.90 lakhs for the quarter (INR 120.28 lakhs loss for the half year). The company's other equity is in negative territory at minus INR 250.79 lakhs, and borrowings stand at INR 778.36 lakhs, indicating a stressed balance sheet.
The preferential allotment is part of an NCLT-mandated resolution plan, which means the share issuance is not optional but required for the company's revival. Existing shareholders will see dilution once the 25 lakh shares are issued (about 29% increase over the current paid-up capital of INR 861.53 lakhs). Combined with continued losses and negative net worth, the stock remains a high-risk, turnaround bet.