Description

Neueon Towers Limited renamed to Neueon Corporation Limited with equity shares to be listed in T Group effective December 23, 2025, following NCLT-approved resolution plan.

Summary

BSE announces the listing of equity shares of Neueon Corporation Limited (formerly Neueon Towers Limited) effective December 23, 2025. The company underwent corporate insolvency resolution under IBC, with NCLT Hyderabad approving the resolution plan on October 23, 2024. Post-restructuring, public shareholders retain only 10% equity while 90% is allotted to the Successful Resolution Applicant. The scrip will trade in T Group under Trade-to-Trade segment.

Key Points

  • Company name changed from Neueon Towers Limited to Neueon Corporation Limited effective December 23, 2025
  • Scrip Code: 532887, ISIN: INE333I01044, Symbol: NEUEON
  • Listed in T Group and Trade-to-Trade segment as per BSE Notice No. 20250702-33 dated July 02, 2025
  • Total equity shares: 5,65,44,552 fully paid-up equity shares
  • Face value reduced from Rs. 10/- to Rs. 1/- per share through capital reduction
  • Part of special pre-open session for IPO and Other category as per SEBI circulars
  • Temporary ISIN used for dematerialized shares as per SEBI circular CIR/MRD/DP/21/2012
  • No lock-in period applicable
  • Market lot: 1 share

Regulatory Changes

The listing follows the resolution plan approved under the Insolvency and Bankruptcy Code, 2016 (IBC) by the Hon’ble National Company Law Tribunal (NCLT), Hyderabad Bench, vide Order dated October 23, 2024. The company transitions from corporate debtor status to regular listing with modified capital structure and shareholding pattern.

Compliance Requirements

  • Market participants must note the company name change in all records and systems effective December 23, 2025
  • Trading shall continue in Trade-to-Trade segment with T Group classification
  • Special pre-open session rules apply as per SEBI Circular No. CIR/MRD/DP/01/2012, CIR/MRD/DP/02/2012 (January 20, 2012), and SEBI/HO/MRD-TPD1/CIR/P/2023/55 (April 11, 2023)
  • Shares in dematerialized mode credited under temporary ISIN per SEBI circular CIR/MRD/DP/21/2012 dated August 02, 2012

Important Dates

  • October 23, 2024: NCLT approval of Resolution Plan
  • December 02, 2024: Exchange Notice issued (No. 20241202-57)
  • December 06, 2024: Record date for giving effect to resolution plan
  • December 23, 2025: Effective date for listing and name change

Impact Assessment

High Impact on Existing Shareholders: Public shareholders (including erstwhile promoters) collectively retain only 10% of the total issued, subscribed, and paid-up equity share capital after the resolution plan implementation, while 90% is allotted to the Successful Resolution Applicant or its nominees. The capital reduction from Rs. 10 to Rs. 1 per share significantly dilutes existing shareholder value.

Trading Restrictions: Continued placement in Trade-to-Trade segment limits intraday trading and requires delivery-based settlement, potentially impacting liquidity. T Group classification indicates higher surveillance and risk categorization.

Market Access: Inclusion in special pre-open session provides price discovery mechanism before regular trading, offering some protection to investors in this restructured entity.

Registered Office: Survey No. 321, Turkala Khanapur (V), Hatnur (M), Medak, Telangana – 502201

Impact Justification

Significant corporate restructuring under IBC with 90% shareholding transfer to resolution applicant and capital reduction from Rs. 10 to Rs. 1 per share affects existing shareholders substantially.