SPML Infra Limited has informed the Exchange regarding allotment of 1144436 securities pursuant to Preferential Issue at its meeting held on December 31, 2025
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SPML Infra has allotted 11,44,436 equity shares (face value Rs. 2 each) at Rs. 276 per share to National Asset Reconstruction Company Limited (NARCL), a non-promoter entity, on a preferential basis. The allotment is on conversion of an existing loan owed to NARCL, with a premium of Rs. 274 per share over face value. The total value of this conversion is approximately Rs. 31.58 crore. The Board approved this through a circular resolution on December 31, 2025, under SEBI's ICDR Regulations.
This is a debt-to-equity swap where NARCL (a government-backed bad bank) converts its loan exposure into equity, reducing the company's debt burden but also diluting existing shareholders. The conversion price of Rs. 276 may be above or below current market price — investors should compare with prevailing share price to assess dilution impact.