SEPC Limited has informed the Exchange regarding a press release dated Jun 25, 2025, titled "Overwhelming response for SEPC Limited Rights Issue of 35,00,00,000 Partly Paid up Equity shares aggregating to Rs.350 Cr.".
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SEPC Limited's Rights Issue of 35 crore partly paid-up equity shares, aggregating to Rs. 350 Crores at Rs. 10 per share, closed on June 23, 2025 with an oversubscription of 2.12 times. The issue received applications for about 74.35 crore shares against the 35 crore shares offered. The ratio offered was 11 rights shares for every 50 fully paid-up shares held, with 50% payable on application (Rs. 5) and the balance on call. Funds will be used for repaying Non-Convertible Debentures, repaying/pre-paying borrowings, increasing margin money for non-fund based limits, working capital needs, and general corporate purposes. Allotment is expected around June 27, 2025, with listing on or about July 8, 2025. SEPC is an EPC company in water, roads, industrial, and mining sectors with FY25 standalone revenue of Rs. 597.65 Cr and net profit of Rs. 25.15 Cr.
Oversubscription signals strong shareholder confidence and improves the company's chances of raising the full Rs. 350 Cr. The dilution is larger than originally offered (2.12x), which may weigh on near-term share price, but proceeds will reduce debt and strengthen the balance sheet.