Meeting Details

  • Type of Meeting: Postal Ballot (No physical meeting)
  • Cut-off Date for Determining Voting Rights: Wednesday, September 23, 2026
  • Remote E-Voting Commencement: Wednesday, September 30, 2026, from 09:00 a.m. IST
  • Remote E-Voting End: Thursday, October 29, 2026, till 05:00 p.m. IST
  • Dispatch Date of Postal Ballot Notice: Tuesday, September 29, 2026
  • Results Declaration: Within 2 working days of the closure of voting

Summary of Proposed Resolutions and Implications

Item 1: Approval of Material Related Party Transactions for FY 2026-27 (Ordinary Resolution)

Seeks approval for entering into Related Party Transactions (RPTs) with specified related parties that may exceed 10% of the annual consolidated turnover of the Company for FY 2025-26 (₹16.12 Cr, making the threshold ₹1.61 Cr). The transactions include sale/purchase of goods & services, rent, business advances, and inter-corporate loans with an aggregate value of up to ₹110 Crores per related party. The related parties are:

  • Neueon Consol Private Limited (Promoter Company)
  • Neueon Steels Private Limited (Private company where a director is a member)
  • Aster Private Limited (Directors have significant influence)
  • Neueon Enterprises Limited (Wholly-owned Subsidiary)
  • Neueon Global Limited (Wholly-owned Subsidiary)
  • Neueon Power Limited (Wholly-owned Subsidiary)

All transactions are stated to be in the ordinary course of business and on an arm's length basis. The Audit Committee and Board approved these transactions on September 23, 2026, subject to shareholder approval.

Item 2: Raising Capital from Eligible Investors (Special Resolution)

Seeks enabling approval to raise funds up to ₹300 Crores through the issuance of equity shares (face value Re. 1) and/or other eligible securities (including warrants, fully/partly convertible debentures, non-convertible debentures with/without warrants, convertible preference shares) in one or more tranches. The modes of issuance include public issue, rights issue, preferential allotment, private placement, including Qualified Institutions Placement (QIP). The proceeds are intended for organic/inorganic growth, capital expenditure, and general corporate purposes. Key terms for a potential QIP include:

  • Allotment only to Qualified Institutional Buyers (QIBs)
  • Completion within 365 days from the resolution date
  • One-year lock-in for allottees (except sale on a recognized stock exchange)
  • No single allottee to get more than 50% of the issue size
  • Minimum 10% allotment to mutual funds
  • Pricing as per SEBI ICDR Regulations, with a possible discount of up to 5%
  • The move is also aimed at helping the Company achieve the Minimum Public Shareholding (MPS) requirement of 25% within three years from the completion of a capital restructuring under an NCLT-approved Resolution Plan (completed on October 23, 2024), which resulted in new promoters holding ~90% of the equity.

Item 3: Alteration of the Articles of Association of the Company (Special Resolution)

Seeks approval to amend Article 22(i) of the AoA to provide the Board with flexibility to make one, two, or multiple calls on members regarding unpaid monies on their shares, with the stipulation that no call shall be payable less than 15 days from the date fixed for payment of the last preceding call.

Voting Process and Methods

  • Mode of Voting: Remote e-voting only. No hard copies of the notice or ballot forms are being sent.
  • E-Voting Agency: National Securities Depository Limited (NSDL)
  • Process: Shareholders must vote via the NSDL e-voting platform (www.evoting.nsdl.com). Detailed instructions for different types of shareholders (demat with NSDL, demat with CDSL, physical holders) are provided in the notice.
  • Shareholders must register their email IDs if not already done by contacting the Company Secretary at cs@neueon.in or the RTA, Bigshare Services Pvt. Ltd., at bsshyd1@bigshareonline.com.

Key Voting Outcomes and Scrutinizer

  • The results, including total votes cast and percentage in favor/against, will be declared within 2 working days after the voting closes (October 29, 2026).
  • The results will be displayed on the Company's website (www.neueon.in) and NSDL's website (www.evoting.nsdl.com) and communicated to the stock exchanges (BSE and NSE).
  • Mr. Y Ravi Prasada Reddy, Practicing Company Secretary, has been appointed as the Scrutinizer to conduct the postal ballot/e-voting process in a fair and transparent manner. The Scrutinizer will submit a report to the Managing Director or Company Secretary after scrutiny, and his decision on the validity of the ballots shall be final.
  • Voting rights are proportional to the shares held as of the cut-off date (September 23, 2026).

Compliance Confirmation

The notice repeatedly confirms compliance with:

  • Regulation 30 and 44 of the SEBI (LODR) Regulations, 2015
  • Sections 102, 108, 110, and other applicable provisions of the Companies Act, 2013
  • The Companies (Management and Administration) Rules, 2014
  • SEBI Circular No: SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/133 dated October 3, 2024
  • MCA General Circular No. 9/2024 dated September 19, 2024
  • Secretarial Standard SS-2 on General Meetings

Other Relevant Information

  • The explanatory statement provides extensive details on each resolution, including rationale, minimum information standards for RPTs as per SEBI circulars, and use of proceeds for the fundraise.
  • For the RPT resolution (Item 1), all related parties are required to abstain from voting.
  • Interested Directors in Item 1 are Mr. Sudheer Rayachoti, Mr. Purusothama Reddy Marrikunta, and Mr. Durga Vara Prasad Bolla.
  • No Director or KMP is interested in Item 2 and Item 3, except to the extent of their shareholding.
  • The notice is available on the company's website (www.neueon.in) and the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com).
  • The Company's Registered Office is at Unit No. 204, Ashoka Capital, Banjara Hills, Hyderabad-500034, Telangana. CIN: L40109TG2006PLC049743.