CL Educate Confirms Reduction of Preference Share Capital in Subsidiary DEXIT Following NCLT Order
CL Educate Limited has confirmed that the Scheme for the Reduction of Preference Share Capital in DEXIT Global Limited, a 100% material subsidiary of the company, has been approved by the National Company Law Tribunal (NCLT). The order was passed on July 09, 2026.The NCLT Order provides approval for reducing up to 2,03,00,000 preference shares in DEXIT Global Limited. These shares were originally at a face value of Rs. 100 per share. The reduction involves paying an aggregate consideration amounting up to and not exceeding Rs. 203,00,00,000 to CL Educate Ltd., which is the preference shareholder of DEXIT.
The realization of funds from this transaction by DEXIT will be utilized by CL Educate Limited. These proceeds are designated for paying off the Deferred Consideration related to the purchase of Redeemable Preference Shares from National Stock Exchange of India Limited (NSEIL), in accordance with the mutually agreed terms between both parties at the time of acquisition.
Following the implementation of the NCLT Order, DEXIT continues its role as a 100% material subsidiary of CL Educate Limited.
Key details regarding the corporate event are summarized below:
| Particulars | Details |
|---|---|
| Entity Involved | DEXIT Global Limited (formerly NSEIT Limited), a 100% material Subsidiary of CL Educate Limited |
| Nature of Event | Confirmation of Scheme of Reduction of Preference Share Capital by the NCLT, Mumbai Bench |
| Date of Final Order | July 09, 2026 |
| Amount Involved | Upto and not exceeding Rs. 203 crores |
CLEDUCATE Stock Price Movement
On Friday, shares of CL Educate Limited rallied as the stock closed at ₹59.35, marking a 1.99% gain for the session. The company saw a traded volume of 32,920 shares during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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