Neueon Corporation Limited has informed the Exchange regarding 'Receipt of Trading Approval of 50,89,00,968 equity shares of Re. 1/- each allotted on preferential basis'.
Awaiting price reaction for this filing.
Neueon Corporation Limited has received trading approval from both BSE and NSE for 508,900,968 equity shares of Rs. 1 each, listed effective April 8, 2026. The shares were allotted on a preferential basis under a Resolution Plan approved by the NCLT Hyderabad Bench on October 23, 2024. All newly issued shares carry a lock-in until April 14, 2027, and rank pari-passu with existing equity shares of the company. This represents a significant increase in the company's listed share capital as part of its insolvency resolution process.
Shareholders should note a large equity dilution from the resolution plan issuance; the lock-in until April 2027 restricts sale of these new shares for approximately one year, reducing immediate selling pressure.