SPML Infra Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on May 16, 2026
SPMLINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
SPML Infra Limited has called an EGM on May 16, 2026 to seek shareholder approval for three preferential issues. First, the company proposes to issue up to 3,09,141 equity shares at Rs. 186 per share (face value Rs. 2 + premium Rs. 184) to non-promoters, raising Rs. 5.75 crore. Second, the company proposes to issue up to 95,39,449 warrants convertible into equity shares at Rs. 186 each within 18 months, raising Rs. 177.43 crore from promoter group and non-promoters. Third, the company proposes to issue 3,84,858 equity shares worth Rs. 7.16 crore to National Asset Reconstruction Company Limited (NARCL) by converting existing loan. The total fundraising amounts to approximately Rs. 190.34 crore across these three items. Promoter group entities including Zoom Industrial Services and Niral Enterprises are among warrant allottees. The relevant date for pricing is April 16, 2026.
This preferential issue will cause significant dilution to existing shareholders as the company is issuing equity shares and warrants convertible into shares. The warrant conversion could increase share count substantially. NARCL converting its loan to equity indicates debt restructuring. Shareholders should carefully evaluate the dilution impact and promoter group stake increase before voting.