With reference to the Outcome of the Board Meeting referred herein above, regarding the proposed preferential issue, we hereby submit the Revised Outcome of the Board Meeting with the requisite ....
Awaiting price reaction for this filing.
Clenon Enterprises Ltd (formerly G.R. Cables Limited) has filed a revised outcome of its board meeting held on November 14, 2025, detailing a preferential issue of 25 lakh equity shares at Rs. 10 per share, aggregating to Rs. 2.5 crore. The shares will be allotted to 22 allottees, all from the public category, with none of them currently holding any shares in the company. The largest allottee is Scan Help Technologies Pvt Ltd, receiving 8 lakh shares (7.20% post-issue), followed by Akash Chaudhary and Chanakya B R (2.25% each). The issue is being carried out under a Resolution Plan approved by the NCLT via order dated March 24, 2023, and the new investors together will hold 22.49% of the company after allotment.
The preferential issue will dilute existing shareholders' stake by introducing 22 new public-category shareholders holding a combined 22.49% post-issue. While Rs. 2.5 crore is a relatively small capital raise, retail investors should note the equity dilution and the fact that this issuance is being done under an NCLT-approved resolution plan, which may signal the company's restructuring history.