SEPC-Furlong JV Secures Rs.521.46 Crore EPC Sub-contract for UP Road Project

SEPC Limited has informed the stock exchanges that its unincorporated joint operation, SEPC-Furlong JV, has entered into an EPC Sub-contract with M/s. Shalimar Corp Limited (SCL). The development was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and communicated to both the National Stock Exchange of India Ltd. and BSE Limited on 14-05-2026.

Contract Details

The EPC Sub-contract pertains to the widening and upgradation to four-lane configuration of the Shahjahanpur – Bisalpur section in Uttar Pradesh. The JV has also received a Letter of Award (LOA) for this project. The contract has been structured on a lump-sum turnkey basis, with the total Contract Price fixed at Rs.521.46 Cr. (Rupees Five Hundred Twenty One Crore Forty-six Lakh only).

The key parameters of the contract are summarised below:

Parameter:	Details
Contract Type:	EPC Sub-contract (Lump-sum Turnkey)
JV Name:	SEPC-Furlong JV
Sub-contractor:	M/s. Shalimar Corp Limited (SCL)
Project Scope:	Widening/Upgradation to four-lane configuration
Project Location:	Shahjahanpur – Bisalpur section, Uttar Pradesh
Contract Price:	Rs.521.46 Cr.
LOA Received:	Yes
Disclosure Date:	14-05-2026

Regulatory Disclosure

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by T. Sriraman, Company Secretary of SEPC Limited, and digitally authenticated on 14-05-2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.53%	-6.75%	+7.19%	-32.74%	-46.59%	+24.59%

SEPC Limited has provided an update on its ongoing rights issue, disclosing the receipt of first and final call money and the subsequent conversion of a portion of its partly paid-up equity shares into fully paid-up equity shares. The development was communicated to the stock exchanges on May 09, 2026.

Rights Issue Call Money Update

SEPC Limited informed the exchanges that, out of the total 49,291,505 partly paid-up equity shares issued and allotted on a rights basis pursuant to the Letter of Offer dated May 22, 2025, the Company has received call money for only 24,236,652 partly paid-up equity shares. This update follows the previous intimation dated April 13, 2026, which pertained to the First and Final Reminder Cum Forfeiture Notice issued in respect of the outstanding partly paid-up equity shares.

Board Approval for Conversion

The Rights Issue Committee of the Board of Directors, at its meeting held on May 09, 2026, approved the conversion of the 24,236,652 partly paid-up equity shares—for which call money was received—into fully paid-up equity shares of the Company. The key details of this development are summarised below:

Parameter:	Details
Total Partly Paid-Up Shares (Outstanding):	49,291,505
Shares for Which Call Money Received:	24,236,652
Shares Converted to Fully Paid-Up:	24,236,652
Rights Issue Letter of Offer Date:	May 22, 2025
First & Final Reminder Notice Date:	April 13, 2026
Board Committee Approval Date:	May 09, 2026

Key Highlights

The call money was received against 24,236,652 out of 49,291,505 outstanding partly paid-up equity shares.
The Rights Issue Committee approved the conversion of these shares into fully paid-up equity shares at its meeting on May 09, 2026.
The rights issue was conducted pursuant to the Letter of Offer dated May 22, 2025.
The First and Final Reminder Cum Forfeiture Notice was previously issued on April 13, 2026.

The disclosure was signed by T. Sriraman, Company Secretary and Compliance Officer of SEPC Limited, and submitted to both the National Stock Exchange of India Ltd. and BSE Limited for their records.