SPML Infra has approved the issuance of shares worth up to ₹140 crore. Additionally, the company has also approved the issuance of shares worth up to ₹34.19 crore at an issue price of ₹215 per equity share.
In an exchange filing, the company stated that during the board meeting held on August 27, 2024, the following decisions were made:
- The board approved the issuance of up to 66.18 lakh equity shares with a face value of ₹2 each, at an issue price of ₹215 per share (including a premium of ₹213 per share). This will raise up to ₹139.50 crore on a preferential basis, with the shares being allocated to promoters, the promoter group, and non-promoter allottees.
- The company also approved the issuance of up to 24.68 lakh equity shares, also at ₹215 per share, amounting to ₹34.19 crore. This issuance is intended for the conversion of an existing loan into equity and will be allocated similarly to promoters, the promoter group, and non-promoter allottees.
- Lastly, the board approved the issuance of up to 73.34 lakh warrants on a preferential basis. Each warrant is priced at ₹215 and can be converted into one equity share of ₹2 each, within 18 months from the allotment. The conversion will be done following the receipt of the remaining amount as per SEBI regulations.
Earlier, SPML Infra reported a significant drop in consolidated net sales to ₹206.76 crore for the June 2024 quarter, down 41.2% from ₹351.62 crore in June 2023. However, the company’s quarterly net profit surged to ₹12.93 crore, marking a 2774.34% increase from ₹0.45 crore in the same quarter the previous year. EBITDA also saw a remarkable rise to ₹26.59 crore, up 616.71% from ₹3.71 crore in June 2023.
SPML Infra’s shares closed at Rs 246.90, 2.36% lower on NSE.
