SPML Infra allots shares, warrants to raise funds
SPML Infra Limited allotted 6,93,999 equity shares and 95,39,449 warrants on a preferential basis to raise funds and convert debt. The equity shares were issued at ₹186 each, including a premium, while warrants require 25% upfront payment and conversion within 18 months. The allotment includes loan conversion by National Asset Reconstruction Company Ltd and participation from promoter and non-promoter groups.

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SPML Infra Limited has allotted 6,93,999 equity shares and 95,39,449 warrants on a preferential basis to raise capital and convert debt into equity. The allotment was approved by the Board of Directors through a circular resolution passed on July 18, 2026. The equity shares were issued at a price of ₹186 per share, including a premium of ₹184, while the warrants were priced at ₹186 each. The warrants will be converted into equity shares within 18 months from the date of allotment in accordance with SEBI (ICDR) Regulations, 2018.
The preferential allotment involved an infusion of ₹5.75 crore for the equity shares issued to non-promoters. Additionally, National Asset Reconstruction Company Ltd converted an existing loan of ₹7.16 crore into 3,84,858 equity shares. The company also allotted warrants to the promoter group and non-promoters, raising an initial 25% of the warrant amount, totaling ₹44.36 crore. The remaining 75% will be infused upon the conversion of warrants into equity shares.
Allotment Details
The allottees include a mix of promoter group entities and non-promoters. The table below details the fund infusion, loan conversion, and the resulting equity and warrant allocations.
| Allottee | Fund Infusion Equity | Fund Infusion Warrant (25%) | Loan Converted to Equity | Equity Shares Allotted | Warrants Allotted |
|---|---|---|---|---|---|
| Classic Fintrex Pvt Ltd. | 4,00,00,044 | 1,00,00,011 | - | 2,15,054 | 2,15,054 |
| Sunita Banthiya | 1,00,00,104 | 12,50,013 | - | 53,764 | 26,882 |
| Bijay Kumar Agarwal | 75,00,078 | 18,75,020 | - | 40,323 | 40,323 |
| National Asset Reconstruction Co. Ltd | - | - | 7,15,83,588 | 3,84,858 | - |
| Zoom Industrial Services Ltd | - | 9,37,44,000 | - | - | 20,16,000 |
| Niral Enterprises Pvt Ltd | - | 9,37,44,000 | - | - | 20,16,000 |
| Manju Vijay Kedia | - | 6,25,42,500 | - | - | 13,45,000 |
| Danta Vyapar Kendra Limited | - | 3,13,87,500 | - | - | 6,75,000 |
| Rama Alloys Pvt Ltd | - | 3,13,87,500 | - | - | 6,75,000 |
| Sampat Marketing Company Pvt. Ltd | - | 3,13,87,500 | - | - | 6,75,000 |
| ILEX Pvt. Ltd | - | 3,13,87,500 | - | - | 6,75,000 |
| Rishabh Homes Private Limited | - | 2,50,17,000 | - | - | 5,38,000 |
| Anant Digga | - | 74,99,985 | - | - | 1,61,290 |
| Vivaya Enterprises Pvt Ltd | - | 49,98,750 | - | - | 1,07,500 |
| First View Trading Pvt Ltd | - | 49,98,750 | - | - | 1,07,500 |
| Ekta Credit Pvt Ltd | - | 49,98,750 | - | - | 1,07,500 |
| Ramesh Sachdeva | - | 46,50,000 | - | - | 1,00,000 |
| Atul Kumar Somani | - | 7,67,250 | - | - | 16,500 |
| Lalita Agarwal | - | 5,11,500 | - | - | 11,000 |
| Vishal Somani | - | 4,88,250 | - | - | 10,500 |
| Sachin Kumar Chauhan | - | 4,65,000 | - | - | 10,000 |
| Raunak Agarwal | - | 2,51,100 | - | - | 5,400 |
| Devanshi Jhunjhunwala | - | 2,32,500 | - | - | 5,000 |
| TOTAL | 5,75,00,226 | 44,35,84,379 | 7,15,83,588 | 6,93,999 | 95,39,449 |
The issuance was conducted in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, following in-principle approval from the National Stock Exchange and BSE Ltd.
Historical Stock Returns for SPML Infra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.00% | -0.79% | -2.97% | +6.49% | -32.86% | +1,180.60% |
How will the conversion of the ₹7.16 crore debt by National Asset Reconstruction Company Ltd impact SPML Infra's leverage ratios and interest obligations in the coming fiscal year?
What strategic projects or debt repayment plans does SPML Infra intend to finance with the remaining 75% warrant infusion expected over the next 18 months?
Will the significant increase in equity shares upon warrant conversion lead to substantial dilution of existing minority shareholders' stakes?


































