as per attached letter
Awaiting price reaction for this filing.
Neueon Corporation has received listing approval from both BSE and NSE for 50,89,00,968 equity shares of Re. 1 each, allotted on a preferential basis to Preca Structures Private Limited, the Resolution Applicant. The allotment is part of the company's Approved Resolution Plan under the Insolvency and Bankruptcy Code, sanctioned by the NCLT Hyderabad bench on October 23, 2024. The company is now completing corporate action formalities with depositories and will subsequently file a trading application with the exchanges. This effectively marks the completion of the share issuance under the resolution plan, with Preca Structures emerging as the new controlling shareholder.
This is a significant positive development for shareholders as it signals the formal conclusion of the insolvency resolution process and the entry of a new promoter. Existing shareholders may see substantial dilution given the size of the new issuance (over 50 crore shares). Trading in the newly allotted shares is expected to begin once the trading application is approved by the exchanges.