As per attached report
Awaiting price reaction for this filing.
Neueon Corporation Ltd has sent out the notice for its 18th AGM to be held on August 19, 2025 at 11:30 AM via video conferencing, along with the Annual Report for FY 2024-25. The 18th AGM is being conducted electronically, with e-voting open from August 16 to August 18, 2025 and book closure from August 14-19, 2025. Key resolutions include changing the company name from Neueon Towers Limited to Neueon Corporation Limited, adding new business areas such as infrastructure/EPC, data centres, interior design, advertising/media, blockchain, and advanced air mobility (eVTOL) to the objects clause, and approving the sale of three properties in Telangana (Sangareddy district). The company also proposes to appoint M/s. ASKM & Co. as new statutory auditors to fill the casual vacancy caused by the resignation of M/s. RPSV & Co., and approve related party transactions for FY2025-26 and FY2026-27 along with a Rs. 500 crore limit for loans/guarantees. The Managing Director's message notes that the company completed its Corporate Insolvency Resolution Process, with NCLT approving the resolution plan submitted by a consortium led by PRECA Solutions India Private Limited in October 2024, and PRECA Structures Private Limited is now the new promoter.
Shareholders will vote on several significant matters including a name change, expansion into new high-growth sectors (data centres, blockchain, eVTOL), sale of three real estate assets, and approval of material related party transactions for the next two years. The context of a recently completed insolvency resolution with a new promoter signals a likely strategic pivot, but shareholders should review the asset sale valuations and related party transaction terms carefully before voting.