Mr. Bolla Durga Vara prasad has been appointed as an Additional Director (non-executive) of the company w.e.f. 07th Nov 2025

Neueon Corporation (formerly Neueon Towers) reported a wider H1 FY26 standalone net loss of Rs 11,098.90 lakhs versus Rs 4,768.98 lakhs in the year-ago period, on revenue of Rs 857.87 lakhs; the auditor issued a qualified review report flagging that no impairment testing was done despite accumulated losses and negative net worth. The board approved allotment of 50.89 crore equity shares of Re 1 face value (about 90% of the reduced share capital) to new promoter Preca Structures Private Limited under the NCLT-approved resolution plan, a major equity dilution event for existing shareholders. The board also cleared forming three wholly-owned subsidiaries — Neueon Power, Neueon Enterprises and Neueon Global — with planned investments of up to Rs 100 crore each, and gave in-principle approval to raise around Rs 1,000 crore via a debt-equity mix to fund expansion. Wholetime Director Mr. Vijayendra Seranyan Pasumarthi resigned citing personal reasons, while Mr. Bolla Durga Vara Prasad (a commerce graduate with manufacturing experience) was appointed as an additional non-executive director, subject to shareholder approval.