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SPML Infra approves preferential issue to raise ₹ 190 crore
The company said it will issue equity shares and convertible warrants, with full warrant conversion due within 18 months and an initial 25% subscription amount already received.
SPML Infra has approved a preferential share and warrant issue to raise ₹ 190 crore, a move aimed at securing fresh growth capital and converting existing debt into equity, according to LiveMint Markets.
The board approved the financing through a circular resolution on July 18, 2026. The company said it allotted 6,93,999 equity shares and 95,39,449 convertible warrants on a preferential basis, with both the shares and warrants priced at ₹ 186 each.
SPML Infra also said the preferential issue includes a balance sheet strengthening step, with National Asset Reconstruction Company Ltd converting an existing loan of ₹ 7.16 crore into 3,84,858 equity shares. Under SEBI rules, the warrants are set to be converted into equity shares within 18 months from the date of allotment.
On the deal terms, the company said the preferential issue brings in ₹ 5.75 crore through equity shares issued to non-promoters. It also reported receiving the initial 25% of the warrant subscription amount, totalling ₹ 44.36 crore, with the remaining 75% due at the time of conversion. Separately, LiveMint Markets reported that Manju Kedia subscribed for 13,45,000 warrants in the same issue, adding to a holding acquired by Vijay Kedia earlier in January 2026 through Kedia Securities Ltd.