Outcome of Board Meeting held on Thursday, April 24, 2025
Price
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Awaiting price reaction for this filing.
CLN Energy's board approved issuing up to 3,60,000 equity shares on a preferential basis to CLN Energy PTE Limited, a promoter group entity, at a minimum price of Rs. 281 per share, potentially raising about Rs. 10.12 crore. This will increase the promoter and promoter group holding from 72.60% to 73.50%, with public shareholding diluting from 27.40% to 26.50%. The board also approved a postal ballot notice to seek shareholder approval for this preferential issue. Additionally, M/s. SARK and Associates LLP was appointed as Secretarial Auditor for FY 2024-25, and M/s. P M R Y & Co. as Internal Auditor for FY 2024-25 and FY 2025-26. The trading window for insiders has been closed with immediate effect.
The preferential allotment is to an existing promoter entity, so it is a related-party capital infusion that slightly increases promoter control and modestly dilutes public shareholders. This is not a fresh public fundraising, so retail investors should watch for the postal ballot outcome and any further clarity on the use of the ~Rs. 10 crore being raised for long-term resources.