Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations) for receipt of Listing Approval of 50,89,00,968 equity shares of Re. 1/- each.
Awaiting price reaction for this filing.
Neueon Corporation has received listing approval from both BSE and NSE for 50.89 crore equity shares of Re. 1 each that were issued on a preferential basis to Preca Structures Private Limited, the Resolution Applicant under the company's insolvency resolution process. These shares were allotted pursuant to the Approved Resolution Plan sanctioned by the NCLT Hyderabad bench on October 23, 2024. The company is now completing corporate action formalities with the depositories and will subsequently file a trading application with the exchanges to enable trading of these shares.
This marks a key milestone in Neueon's emergence from corporate insolvency, with Preca Structures now becoming the controlling shareholder. Existing shareholders should expect significant dilution, and once trading permission is granted, the stock may see sharp price discovery and high volatility given the large number of new shares entering the market.