Pursuant to Regulation 30 and other applicable Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and with reference to captioned subject, we wish to ....
Awaiting price reaction for this filing.
The Board of Directors of Clenon Enterprises Ltd (formerly G.R. Cables Limited) met on 30th December 2025 and approved the allotment of 23,25,000 equity shares at face value of INR 10/- each, at a price of INR 10/- per share, aggregating to INR 2.32 crore. These shares were issued on a preferential basis to 20 strategic investors (public category), as part of the Resolution Plan approved by the NCLT Hyderabad Bench on 24th March 2023. Originally, the Board had approved the issue of 25,00,000 shares on 14th November 2025, but only 23,25,000 shares received subscription, leading to the revised allotment. The largest allottees are Scan Help Technologies Pvt Ltd (7.31%), Chanakya B R (2.28%), and Akash Chaudhary (2.28%).
The allotment results in a 21.25% dilution for existing shareholders, with 20 new investors entering the shareholding. However, the company raises INR 2.32 crore in fresh capital, which is relatively modest in size. The share price of INR 10/- (issue price equals face value) suggests the stock is trading at or near face value, indicating limited valuation for the issuance.