Announcement under Regulation 30 (LODR) - issue of equity shares through Preferential basis.
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CLN Energy's board, at its meeting on April 24, 2025, approved issuing 3,60,000 equity shares on a preferential basis to CLN Energy PTE Limited, a promoter-group entity. The minimum issue price is fixed at Rs. 281 per share (subject to SEBI ICDR pricing rules), implying a fund raise of around Rs. 10.11 crore. Post-allotment, promoter holding will rise from 72.60% to 73.50%, while public shareholders' stake will dilute from 27.40% to 26.50%. The board also approved a postal ballot notice to seek shareholder approval for the preferential issue, and appointed SARK and Associates LLP as Secretarial Auditor (FY25) and P M R Y & Co. as Internal Auditor (FY25 and FY26).
The promoter is putting in more capital, which signals continued confidence in the company, but public shareholders will see a small dilution of their stake. The move still requires shareholder and regulatory approvals before it can go through.