Neueon Corporation Limited has submitted a regulatory disclosure to BSE Limited and National Stock Exchange of India Limited regarding the withdrawal of its Rights Issue proposal. The disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Board of Directors of the Company, which had originally approved the Rights Issue for an amount not exceeding ₹150.79 crores at their meetings held on July 31, 2026, has now accorded consent to withdraw this proposal.
The stated reason for the withdrawal is that the time taken for completion of requisite regulatory and procedural formalities has resulted in a change in the timing and immediacy of the Company's funding requirements.
The disclosure is signed by Sudheer Rayachoti, Managing Director (DIN: 01914434), and is dated September 9, 2026. The document reference number is NCL/2026-27/0363/LSD.
Financial Impact
The disclosure does not quantify any financial impact from the withdrawal of the Rights Issue proposal.