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.
Neueon Corporation Limited's promoter Preca Structures Private Limited has submitted its yearly disclosure confirming holding of 50,89,00,968 equity shares constituting 90% of the company as of March 31, 2026. The promoter declared that no encumbrance was created on any shares during the financial year ended March 31, 2026, and total encumbrance stands at Nil. The disclosure comes after NCLT Hyderabad approved Preca Structures' Resolution Plan on October 23, 2024. The plan includes a compliance requirement to restore public shareholding to 25% within three years if it falls below that threshold.
The 90% promoter holding is significantly above the 50% threshold, indicating concentrated ownership. No pledge activity is a positive signal for shareholders as it means no risk of forced selling from encumbered shares. The company will need to bring public shareholding to 25% within three years per SEBI rules.