Vijay Kedia family raises stake in multibagger stock that has surged over 1700% in five years

SPML Infra's board approved raising about Rs 190 crore through a preferential issue of 6,93,999 equity shares and 95,39,449 convertible warrants at Rs 186 each, with warrants convertible within 18 months. National Asset Reconstruction Company (NARCL) converted an existing Rs 7.16 crore loan into equity as part of debt-to-equity restructuring, and the promoter group's post-conversion holding is expected near 42%. Ace investor Vijay Kedia's wife Manju Kedia subscribed to 13,45,000 warrants, taking the combined Kedia family stake to about 3% on the expanded equity base.