Spectrum Electrical Industries Limited Approves Preferential Issue of Equity Shares and Convertible Warrants
Spectrum Electrical Industries Limited has approved a preferential issue involving both Equity Shares and convertible warrants, as announced by the company on July 24, 2026. The issuance is intended to raise significant capital through various investors, including institutional funds and a promoter.The Board of Directors reviewed and sanctioned the offer to allot up to 13,73,625 fully paid-up Equity Shares and up to 2,49,750 convertible warrants.
The details of the equity share issuance are as follows:
- Maximum number of shares: Up to 13,73,625
- Face value per share: ₹ 10/-
- Issue price per share: ₹ 2,002/-(including a premium of ₹ 1,992/-)
- Aggregate investment amount: ₹ 274,99,97,250/-
Regarding the warrants, up to 2,49,750 convertible warrants are being issued at an issue price of ₹ 2,002/- per warrant. The total aggregate amount for the warrant issuance is ₹ 49,99,99,500/-.
The purchase of these warrants involves a tiered payment structure. Investors pay an upfront subscription price equivalent to 25% of the Warrant Issue Price, which is ₹ 500.50 per Warrant. The remaining 75% (₹ 1,501.50 per Warrant) must be paid by the warrant subscriber at the time of conversion. The warrants may be converted into Equity Shares within a maximum period of 18 months from the date of allotment.
Overview of Preferential Allotment Details
The company detailed six investors in the preferential issue, with three being institutional entities and one identified as a promoter:| Sr. No. | Name of Proposed Allottee | Category | Securities Offered (Max) | Issue Price (In ₹) | Investment Amount (In ₹) |
|---|---|---|---|---|---|
| 1. | Valuequest India Inflexion Fund | Non-Promoter | Equity Shares | 2,002 | 74,99,99,250 |
| 2. | Minosha India Limited | Non-Promoter | Equity Shares | 2,002 | 49,99,99,500 |
| 3. | HDFC Mutual Fund - Innovation Fund | Non-Promoter | Equity Shares | 2,002 | 24,99,99,750 |
| 4. | HDFC Mutual Fund - Manufacturing Fund | Non-Promoter | Equity Shares | 2,002 | 99,99,99,000 |
| 5. | HDFC Mutual Fund - Value Fund | Non-Promoter | Equity Shares | 2,002 | 24,99,99,750 |
| 6. | Mr. Deepak Suresh Chaudhari | Promoter | Warrants | 2,002 | 49,99,99,500 |
Post-Allotment Subscription Outcome
The details of the subscription outcome show that the allotment process resulted in new shares and warrants being issued to these investors.| Name of Investor | Pre-Issue Share Holding | Issue Quantity | Shares/Warrants Issued | Post-Issue Holding |
|---|---|---|---|---|
| Valuequest India Inflexion Fund | Nil | 3,74,625 Equity Shares | 3,74,625 | 2.16% |
| Minosha India Limited | Nil | 2,49,750 Equity Shares | 2,49,750 | 1.44% |
| HDFC Mutual Fund - Innovation Fund | Nil | 1,24,875 Equity Shares | 1,24,875 | 0.72% |
| HDFC Mutual Fund - Manufacturing Fund | Nil | 4,99,500 Equity Shares | 4,99,500 | 2.88% |
| HDFC Mutual Fund - Value Fund | Nil | 1,24,875 Equity Shares | 1,24,875 | 0.72% |
| Mr. Deepak Suresh Chaudhari | 83,36,975 | 2,49,750 Warrants | 85,86,725 shares | 49.53% |
SPECTRUM Stock Price Movement
Shares of Spectrum Electrical Industries Limited closed lower today, shedding 3.47% to settle at ₹2,281.60 in the market. The equity saw trading activity within a range bounded by the day’s high of ₹2,363.30 and low of ₹2,203.60, with 64,610 shares traded.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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