Board approves proposal to raise up to Rs 300 crore; AOA amendment and postal ballot
NEUEON · price
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The board approved raising funds up to Rs 300 crore through equity shares and/or other eligible securities via private placement, QIP, preferential issue, or other permitted methods in one or more tranches. The proposal needs shareholder approval via postal ballot (voting Sept 30 to Oct 29, 2026). The board also approved amending Article 22(i) of the Articles of Association regarding calls on unpaid share capital. Management Committee was delegated powers for the fund raise. RPR and Associates appointed as scrutinizer.
Potential equity dilution ahead. Up to Rs 300 crore raise could fund growth or reduce debt, subject to shareholder approval via postal ballot.