News Stocks Clenon Enterprises Completes ₹2.32 Crore Equity Allotment to 20 Strategic InvestorsClenon Enterprises Completes ₹2.32 Crore Equity Allotment to 20 Strategic Investors
Clenon Enterprises Limited successfully completed a preferential equity allotment raising ₹2.32 crores from 20 strategic investors through 23.25 lakh shares at ₹10 per share. The allotment was conducted pursuant to an NCLT-approved Resolution Plan, with Scan Help Technologies Pvt Ltd receiving the largest allocation of 7.31% equity stake.
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Clenon Enterprises Limited (formerly G.R. Cables Limited) has successfully completed a preferential allotment of equity shares to strategic investors. The company's Board of Directors approved the allotment of 23.25 lakh equity shares worth ₹2.32 crores at their meeting held on December 30, 2025.
Allotment Details
The Board approved the allotment of 23.25 lakh equity shares of face value ₹10 each to strategic investors from the public category at an issue price of ₹10 per share. This allotment was conducted pursuant to the Resolution Plan approved by the Hon'ble National Company Law Tribunal, Hyderabad Bench, through its order dated March 24, 2023.
| Parameter: | Details |
|---|---|
| Total Shares Allotted: | 23.25 lakh equity shares |
| Face Value: | ₹10 per share |
| Issue Price: | ₹10 per share |
| Total Amount Raised: | ₹2.32 crores |
| Number of Investors: | 20 strategic investors |
| Post-Allotment Holding: | 21.25% of total equity |
Strategic Investor Breakdown
The allotment was distributed among 20 strategic investors, all from the public category. The largest allocation went to Scan Help Technologies Pvt Ltd, which received 8.00 lakh shares representing 7.31% of the total equity. Other significant allottees include Chanakya B R and Akash Chaudhary, each receiving 2.50 lakh shares (2.28% each).
| Major Allottees: | Shares Allocated | Percentage |
|---|---|---|
| Scan Help Technologies Pvt Ltd: | 8.00 lakh shares | 7.31% |
| Chanakya B R: | 2.50 lakh shares | 2.28% |
| Akash Chaudhary: | 2.50 lakh shares | 2.28% |
| Kakarlapudi Vinay Kumar: | 1.50 lakh shares | 1.37% |
| Neeraj Krishna: | 1.50 lakh shares | 1.37% |
Board Meeting Outcomes
The Board meeting commenced at 6:00 PM IST and concluded at 6:30 PM IST, presided over by Whole-Time Director Nitin Kumar Mathur. The company has fulfilled all disclosure requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Corporate Structure
Clenon Enterprises Limited, with CIN L19201TG1992PLC013772, is listed on BSE with scrip code 517564. The company is headquartered at H. No. 8-2-575/R/3B, 1st Floor, Nath Reliance Kuteer, Road No. 7, Banjara Hills, Hyderabad, Telangana, and operates under the leadership of Whole-Time Director Nitin Kumar Mathur (DIN: 06451862).
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