Simplex Castings Limited approved a preferential issue of equity shares and convertible warrants, aiming to raise up to ₹99.71 crore in aggregate. The board meeting held on September 23, 2026, sanctioned the issuance of new securities at a price of ₹105 per share or warrant.

The proposal involves raising funds through two distinct instruments: direct equity shares and warrants convertible into equity. The transaction is subject to regulatory approvals and shareholder consent via an Extra Ordinary General Meeting (EGM) scheduled for October 15, 2026. The company notified the BSE and Calcutta Stock Exchange pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Details of the fundraising proposal

The board approved an increase in authorised share capital from ₹10 crore to ₹15 crore to accommodate the new issuance. The fundraising structure is divided into equity shares and warrants as detailed below:

The equity shares will be issued to certain non-promoter investors under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The warrants, also priced at ₹105, are convertible into one equity share each and can be exercised within 18 months from allotment. These warrants may be allotted to both promoter and non-promoter investors.

Governance and EGM schedule

In addition to the capital raise, the board appointed Urlam Jaya Manmadha Rao as an Additional Director designated as Non-Executive Independent Director for a five-year term. His appointment is subject to shareholder approval.

The company has fixed Thursday, October 8, 2026, as the cut-off date for determining members eligible to vote by remote e-voting for the upcoming EGM. M/s Meena Naidu & Associates, Practicing Company Secretaries, have been appointed as the scrutinizer for the e-voting process.

What the numbers show

The combined value of the proposed equity and warrant issuance represents a significant expansion of Simplex Castings' capital base relative to its current authorised share capital of ₹10 crore. The total raise of ₹99.71 crore is nearly ten times the existing authorised limit, necessitating the approved increase to ₹15 crore. Notably, the warrant component (₹52.55 crore) exceeds the immediate equity component (₹47.15 crore), suggesting a phased capital infusion strategy where promoters and select investors commit to future conversion over an 18-month window rather than providing all funds upfront.

Simplex Castings Limited will host a plant visit and analyst interaction on September 29, 2026, in Bhilai, Chhattisgarh.

The event is organized by Merlin Capital Advisors and is open to buy-side funds and family offices. The company confirmed the schedule via a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Event Details

The interaction aims to provide investors with insights into the company’s operations at its Bhilai facility. The company noted that the schedule may change due to unexpected exigencies.

Simplex Castings emphasized that no unpublished price-sensitive information will be shared during the meeting. The disclosure was signed by Chandra Shekhar Sahu, Company Secretary.