CL Educate Limited has submitted a regulatory disclosure under Regulation 30 of SEBI LODR Regulations, providing an update regarding its 100% material subsidiary DEXIT Global Limited (formerly known as NSEIT Limited).
The Hon'ble National Company Law Tribunal, Mumbai Bench-II passed a Final Order dated July 09, 2026 confirming the Scheme of Reduction of Preference Share Capital of DEXIT Global Limited. The NCLT Order approves the reduction of up to 2,03,00,000 preference shares at face value of ₹100 per share, involving an aggregate consideration of up to and not exceeding ₹203,00,00,000 (Two Hundred and Three Crores Rupees).
The proceeds to be received from DEXIT shall be utilized by CL Educate Limited for paying off the Deferred Consideration against the purchase of the Redeemable Preference Shares to National Stock Exchange of India Limited (NSEIL), in accordance with the mutually agreed terms between both parties at the time of acquisition.
DEXIT Global Limited continues to remain a 100% material subsidiary of CL Educate Limited after implementation of the NCLT Order.
Relevant Particulars
- Name of entity involved: DEXIT Global Limited (formerly NSEIT Limited), a 100% material Subsidiary of the Company
- Nature of the event: Confirmation of Scheme of Reduction of Preference Share Capital by the Hon'ble NCLT, Mumbai Bench
- Date of the Final Order: July 09, 2026
- Amount involved: Upto and not exceeding ₹203 crores