SEPC Limited has informed the Exchange regarding Outcome of Committee Meeting held on May 22, 2025.
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SEPC Limited's Rights Issue Committee, at its meeting on May 22, 2025, approved the Letter of Offer, Abridged Letter of Offer, Application Form, and Rights Entitlement Letter for a proposed rights issue. The company will issue up to 35 crore partly paid-up equity shares of face value ₹10 each at ₹10 per share (no premium), aggregating up to ₹350 crore. The ratio is 11 rights shares for every 50 fully paid-up shares held, with the record date set as May 23, 2025. Investors need to pay ₹5 on application and the remaining ₹5 on a future call. The issue opens on June 9, 2025, and closes on June 23, 2025. The promoter is Mark A B Capital Investment LLC, and the company has a history of debt restructuring under a Resolution Plan, with CCDs and NCDs outstanding to lenders.
Existing shareholders will need to decide whether to subscribe to their entitlement or let it lapse, given the partly paid-up structure that defers 50% of the payment to a later call. The ₹350 crore capital raise, priced at face value with no premium, signals the company's need to strengthen its balance sheet following its past debt resolution process, which may dilute existing shareholders if they do not fully participate.