Description

Neueon Towers Limited renamed to Neueon Corporation Limited, to be listed in T Group from December 23, 2025, following NCLT-approved resolution plan with 90% shareholding to Resolution Applicant.

Summary

BSE announces the listing of Neueon Corporation Limited (formerly Neueon Towers Limited) in T Group from December 23, 2025, following approval of a resolution plan by NCLT Hyderabad under the Insolvency and Bankruptcy Code, 2016. The company undergoes significant restructuring with 90% equity allotted to the Successful Resolution Applicant and public shareholding reduced to 10%. Trading will continue in 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 with Trade-to-Trade segment trading only
  • Total equity shares: 5,65,44,552 fully paid-up shares of Rs. 1/- each (reduced from Rs. 10/-)
  • Face value reduced from Rs. 10/- to Rs. 1/- per share through capital reduction
  • 90% shareholding transferred to Successful Resolution Applicant (SRA) or nominees
  • Public shareholding reduced to 10% (including erstwhile promoters)
  • Part of special pre-open session for IPO and Other category scrips
  • Equity shares credited under temporary ISIN as per SEBI circular CIR/MRD/DP/21/2012

Regulatory Changes

The listing follows NCLT-approved Resolution Plan under IBC provisions:

  • Resolution Plan approved by NCLT Hyderabad Bench on October 23, 2024
  • Complies with SEBI Circular No. CIR/MRD/DP/01/2012, CIR/MRD/DP/02/2012 (January 20, 2012)
  • Complies with SEBI/HO/MRD-TPD1/CIR/P/2023/55 (April 11, 2023) for pre-open session
  • Dematerialized shares handled as per SEBI circular CIR/MRD/DP/21/2012 (August 02, 2012)
  • Trading continues under BSE Notice No. 20250702-33 dated July 02, 2025 for Trade-to-Trade segment

Compliance Requirements

  • Market Participants must update systems with new company name: Neueon Corporation Limited
  • Update scrip details: Symbol NEUEON, Code 532887, ISIN INE333I01044
  • Recognize T Group classification and Trade-to-Trade segment restrictions
  • Participate in special pre-open session as per SEBI guidelines
  • Note distinctive numbers: 1 to 56544552
  • Market lot: 1 share
  • Registered Office: Survey No. 321, Turkala Khanapur (V), Hatnur (M), Medak, Telangana – 502201

Important Dates

  • December 19, 2025: Notice date
  • December 23, 2025: Effective date for listing in T Group and name change
  • October 23, 2024: NCLT approval date for Resolution Plan
  • December 06, 2024: Record date for giving effect to resolution plan (as per Exchange Notice No. 20241202-57)
  • December 02, 2024: Exchange notice issued fixing record date

Impact Assessment

Shareholder Impact: Existing public shareholders face significant dilution, retaining only 10% of total equity while 90% transfers to the Resolution Applicant. Face value reduction from Rs. 10/- to Rs. 1/- affects per-share metrics.

Trading Impact: Classification in T Group with Trade-to-Trade segment means no intraday trading, delivery-based settlement only, and higher surveillance - typically indicating regulatory concerns or volatility.

Market Perception: Emergence from insolvency proceedings under IBC signals corporate restructuring. The “Corporate Debtor” designation and restrictive trading category may impact liquidity and investor sentiment negatively.

Operational Impact: Use of temporary ISIN for dematerialized shares requires coordination between depositories and market participants for proper credit to investor accounts post-restructuring.

Impact Justification

Major corporate restructuring under IBC with 90% equity transfer to resolution applicant, name change, and listing in T Group with trade-to-trade restrictions affecting all shareholders