SPR Auto Technologies Fully Utilizes Funds from NCD Issuance; No Deviation Reported
SPR Auto Technologies Limited, formerly Shriram Pistons & Rings Limited, has confirmed the complete utilization of proceeds raised from its Non-Convertible Debentures (NCDs). The company stated that the funds were used in compliance with the objects defined in the Key Information Document dated February 17, 2026.The company issued two series of debentures through a private placement: Series I Debentures and Series II Debentures, both having a face value interest rate of 7.30% and 7.35%, respectively.
According to the details provided, the funds were raised on February 23, 2026, and were fully utilized against their raised amounts.
A table detailing the debenture issuance and utilization is provided below:
| Debenture Name | ISIN | Mode of Fund Raising | Type of Instrument | Date of Raising Funds | Amount Raised (Rs. in crore) | Funds Utilized (Rs. in crore) | Deviation |
|---|---|---|---|---|---|---|---|
| Series I Debentures (7.30%) | INE526E07015 | Private placement | Listed, secured, rated, redeemable, non-cumulative, non-convertible debentures | February 23, 2026 | 500 | 500 | No |
| Series II Debentures (7.35%) | INE526E07023 | Private placement | Listed, secured, rated, redeemable, non-cumulative, non-convertible debentures | February 23, 2026 | 500 | 500 | No |
The company reported that there was no deviation or variation in the use of the NCD proceeds from the objectives stated in the Offer Document.
The primary objective for which the funds were raised was the refinancing of existing debt. Specifically, the funds were allocated towards acquiring a 100% stake in three Indian entities belonging to Spain's Grupo Antolin: Antolin Lighting India Pvt Ltd, Grupo Antolin India Pvt Ltd, and its subsidiary Grupo Antolin Chakan Pvt Ltd (collectively referred to as 'Target Entities'). The balance of the proceeds were intended for payment of all related fees, costs, and other expenses.
SPR Auto Technologies Limited confirmed that the entire amount raised from the NCDs—Rs. 500 crore for Series I and Rs. 500 crore for Series II—was fully utilized, with no variation in the allocated objects of the funds.
SHRIPISTON Stock Price Movement
On Thursday, Shriram Pistons & Rings Limited shares edged higher, concluding the trading session at ₹3278.8, marking a 0.25% gain. The stock traded within a range of ₹3260 to ₹3336.1, supported by a total traded volume of 25,164 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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