Notice of Postal Ballot
Price
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Awaiting price reaction for this filing.
CLN Energy Ltd has issued a postal ballot notice seeking shareholder approval for a preferential issue of up to 3,60,000 equity shares (face value Rs. 10) at a minimum price of Rs. 281 per share to its promoter-group entity, CLN Energy PTE Ltd (whose ultimate beneficial owner is Mr. Rajiv Seth). The proposed issue is expected to raise approximately Rs. 10.11 crore (minimum), with proceeds earmarked primarily for acquiring land to support the company's expansion activities. Following the allotment, promoter shareholding will rise modestly from 72.60% to 73.50%, while the public float will dilute from 27.40% to 26.50%. The voting window opens on May 1, 2025 and closes on May 30, 2025, with results to be announced by June 3, 2025. The shares have been listed on BSE for less than 90 trading days, so price re-computation rules under SEBI ICDR Regulation 164(3) apply.
Minor promoter-led equity infusion with negligible dilution for public shareholders (about 0.9 percentage points). The capital raise is small relative to market cap and is intended for land acquisition, signaling upcoming capacity or business expansion. Existing shareholders should note the promoter's continued commitment and the slight increase in their already-dominant stake.