SPML Infra Limited Announces Major Capital Raise and Expansion Plan
SPML Infra Limited has announced significant capital structuring decisions, following the Board of Directors' approval to execute a series of preferential issues and increase capital expenditure for major infrastructure expansion.The Board approved the issuance of securities through three distinct tranches: a preferential issue to non-promoter investors, the issuance of warrants, and a preferential issue via the conversion of loans with a corporate entity.
Capital Issuance Details
The company approved the following equity and warrant allotments:1. Preferential Issue to Non-Promoters: The company approved the issuance of up to 3,09,141 Equity Shares. These shares have a face value of Rs. 2/- each and an issue price of Rs. 186/- per equity share (which includes a premium of Rs. 184/- per equity share). The total aggregate value of this allotment is up to Rs. 5.75 crores.
2. Warrants Issuance: An allotment of up to 95,39,449 Warrants was approved. These warrants are priced at Rs. 186/- per warrant, aggregating up to Rs. 177.43 crores. Each warrant is convertible into 1 Equity Share of face value Rs. 2/- each, fully paid up at a premium of Rs. 184/-. The conversion is scheduled within 18 months of the allotment, with the remaining amount received as per the applicable regulations.
3. Loan Conversion Issue: The Board also approved the issuance of up to 3,84,858 Equity Shares to National Asset Reconstruction Company Ltd. These shares have a face value of Rs. 2/- each and an issue price of Rs. 186/- per equity share (a premium of Rs. 184/- per equity share). This tranche is structured for the conversion of existing loans.
Strategic Expansion and Capex Increase
The company further announced a planned increase in its capital expenditure. The budgeted capital expenditure was approved to increase from ₹176.44 crore to ₹238.43 crore. This enhanced funding is designated to support the expansion of BESS (Battery Energy Storage System) capacity from 2.5 GWh to 5 GWh. The expenditure also accounts for the development of allied facilities, including container manufacturing capacity of 600 units per annum, alongside requirements for working capital and general corporate purposes.Summary of Allotments
The total allocation details, including shares and warrants across all proposed allottees, are summarized below:| Allotment Type | Total Equity Shares (Maximum) | Total Warrants (Maximum) |
|---|---|---|
| Equity Shares (Preferential/Conversion) | 3,09,141 + 3,84,858 | N/A |
| Warrants | N/A | 95,39,449 |
| Total Securities | (As detailed in the table below) | 1,02,33,448 |
A detailed view of the proposed allottees and the respective shareholding impact is provided in the following table:
| Name of Proposed Allottees | Category/ present status | Total Warrants Allotted |
|---|---|---|
| Zoom Industrial Services Limited | Promoter group | 20,16,000 |
| Niral Enterprises Pvt Ltd | Promoter group | 20,16,000 |
| Manju Vijay Kedia | Public | 13,45,000 |
| Danta Vyapar Kendra Limited | Public | 6,75,000 |
| Rama Alloys Pvt Ltd | Public | 6,75,000 |
| Sampat Marketing Company Pvt. Ltd | Public | 6,75,000 |
| ILEX Pvt. Ltd | Public | 6,75,000 |
| Rishabh Homes Private Limited | Promoter group | 5,38,000 |
| Classic Fintrex Pvt Ltd. | Public | 2,15,054 |
| National Asset Reconstruction Co. Ltd | Public | 0 |
| Anant Digga | Public | 1,61,290 |
| Vivaya Enterprises Pvt Ltd | Public | 1,07,500 |
| First View Trading Pvt Ltd | Public | 1,07,500 |
| Ekta Credit Pvt Ltd | Public | 1,07,500 |
| Ramesh Sachdeva | Public | 1,00,000 |
| Sunita Banthiya | Public | 26,882 |
| Bijay Kumar Agarwal | Public | 40,323 |
| Atul Kumar Somani | Public | 16,500 |
| Lalita Agarwal | Public | 11,000 |
| Vishal Somani | Public | 10,500 |
| Sachin Kumar Chauhan | Public | 10,000 |
| Raunak Agarwal | Public | 5,400 |
| Devanshi Jhunjhunwala | Public | 5,000 |
SPMLINFRA Stock Price Movement
Today, SPML Infra Limited shares edged higher, closing at ₹218.36, marking a 2.73% gain for the day. The stock settled at this elevated level following robust trading, transacting on a volume of 981,076 shares.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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