Neueon Towers Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 19, 2025
Awaiting price reaction for this filing.
Neueon Towers Limited has called its 18th AGM on August 19, 2025 at 11:30 AM via video conferencing, with the cut-off date for e-voting set as August 13, 2025. The agenda includes adoption of FY25 audited financials, re-appointment of director Mr. Sudheer Rayachoti, and appointment of M/s. ASKM & Co. as new Statutory Auditors for 5 years (FY26–FY30) to fill the casual vacancy left by the resignation of M/s. RPSV & Co. The meeting will also consider major corporate actions: change of company name to 'Neueon Corporation Limited', amendment of the object clause to add new businesses such as data centres, blockchain, eVTOL/air mobility, advertising, and infrastructure EPC, and sale of three land/building assets in Sangareddy, Telangana. Additionally, shareholders' approval is sought for related party transactions, appointment of Ms. Surabhi Verma as Independent Director for 5 years, and authorisation for the Board to give loans, guarantees or securities up to Rs. 500 Crores under Section 185.
Shareholders should note this AGM carries several significant items — a proposed company name change, a sweeping expansion of business objects into new-age sectors (data centres, blockchain, eVTOL), and proposed sale of multiple real estate assets in Telangana. The change of statutory auditor (replacing RPSV & Co. after resignation) and the new Rs. 500 Crore loan/give guarantee limit are also material items that may affect the stock's risk profile.