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 Clenon Enterprises (formerly G.R. Cables), at its meeting on December 30, 2025, approved the allotment of 23,25,000 equity shares of face value INR 10 each at INR 10 per share on a preferential basis to 20 strategic investors under the public category. The company raised approximately INR 2.32 crores through this allotment. Originally, the board had approved the issue of 25,00,000 shares on November 14, 2025, but only 23,25,000 shares got subscribed. This allotment is part of the Resolution Plan approved by the NCLT Hyderabad Bench in March 2023, indicating an ongoing corporate restructuring or revival. The largest single allottee is Scan Help Technologies Pvt Ltd receiving 8,00,000 shares (7.31% post-allotment holding), followed by Chanakya B R and Akash Chaudhary with 2,50,000 shares each (2.28% each).
Existing shareholders will see a dilution of about 21.25% in their equity stake due to this preferential issue. The modest capital raise of around INR 2.32 crores, combined with the NCLT Resolution Plan reference, suggests the company is in a recovery or restructuring phase, which shareholders should monitor closely for any further developments.