Neueon Corporation Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Awaiting price reaction for this filing.
Preca Structures Private Limited, the promoter of Neueon Corporation Limited, has disclosed holding 90% (50,89,00,968 equity shares) of the company as on March 31, 2026. The promoter group confirmed that no encumbrances were created on these shares during the financial year ended March 31, 2026, with total encumbrance currently at Nil. This disclosure is linked to an NCLT Hyderabad-approved resolution plan from October 23, 2024, under which public shareholding fell below the mandatory 25% threshold. As per SEBI regulations, the company has been given a maximum of three years to restore public shareholding to 25%.
With 90% promoter holding and only 10% public shareholding, this stock falls in the highly concentrated category. The company must increase public shareholding to 25% within 3 years, which could trigger future dilution or offer mechanisms. No encumbrances on promoter shares is a positive sign for shareholders.