SPML Infra Board Approves ₹190.34 Cr Preferential Issue, EGM on May 16, 2026

SPML Infra Limited's board of directors, in a meeting held on April 23, 2026, approved a comprehensive preferential issue aggregating ₹190.34 crores comprising equity shares and warrants. The company has also issued notice for an Extraordinary General Meeting (EGM) scheduled on May 16, 2026 at 12:30 PM through video conferencing to seek shareholder approval for the proposed issuance. The capital expenditure has been increased from ₹176.44 crore to ₹238.43 crore to support expansion initiatives.

Preferential Issue Components

The preferential issue comprises three distinct components targeting different investor categories. The issuance includes up to 3,09,141 equity shares at ₹186 per share (including premium of ₹184) aggregating ₹5.75 crores for cash consideration to non-promoter allottees. Additionally, up to 95,39,449 warrants at ₹186 per warrant aggregating ₹177.43 crores will be issued, with each warrant convertible into one equity share within 18 months of allotment. The third component involves issuance of up to 3,84,858 equity shares at ₹186 per share aggregating ₹7.16 crores to National Asset Reconstruction Company Ltd for conversion of loan.

Component	Details	Amount
Cash Consideration Equity Shares	Up to 3,09,141 shares at ₹186 per share	₹5.75 crores
Warrants Issue	Up to 95,39,449 warrants at ₹186 per warrant	₹177.43 crores
Loan Conversion Equity Shares	Up to 3,84,858 shares at ₹186 per share	₹7.16 crores
Total Aggregate Amount		₹190.34 crores

Capital Expenditure and Expansion Plans

The board has approved an increase in capital expenditure from ₹176.44 crore to ₹238.43 crore to support the expansion of Battery Energy Storage System (BESS) capacity from 2.5 GWh to 5 GWh. The expansion includes development of allied facilities such as container manufacturing capacity of 600 units per annum. The funds raised will be utilized for capital expenditure, working capital requirements, and general corporate purposes.

Expansion Component	Specification
BESS Capacity Increase	From 2.5 GWh to 5 GWh
Container Manufacturing	600 units per annum capacity
Revised Capital Expenditure	₹238.43 crores

Allottee Categories and Distribution

The preferential issue encompasses 23 proposed allottees across promoter group and public categories. Major warrant recipients include promoter group entities such as Zoom Industrial Services Limited (20,16,000 warrants), Niral Enterprises Pvt Ltd (20,16,000 warrants), and Rishabh Homes Private Limited (5,38,000 warrants). National Asset Reconstruction Company Ltd will receive 3,84,858 equity shares through loan conversion. Public investors including Manju Vijay Kedia, Danta Vyapar Kendra Limited, and Rama Alloys Pvt Ltd are among the other allottees. All allotments are subject to approval from members in the general meeting and relevant stock exchanges.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.26%	-12.02%	-2.20%	-10.77%	+4.94%	+1,406.82%

SPML Infra Limited's Board of Directors has approved the allotment of 42,44,844 equity shares following the exercise of warrants by the Promoter Group and non-promoters. The shares carry a face value of Rs 2 each and were allotted at a price of Rs 215 per share, which includes a premium of Rs 213 per share. The decision was taken through a Circular Resolution passed on 22nd April, 2026, in accordance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

The allotment has been undertaken in compliance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, along with other applicable rules and regulations prescribed by regulatory or statutory authorities. The preferential allotment was made to a mix of promoter group entities and public shareholders.

Breakdown of Allotment

The detailed allocation of shares across various categories is presented below:

Sl. No.	Name of the Allottees	Category	No. of Warrants	No. of Shares Allotted
1.	Niral Enterprises Pvt. Ltd	Promoter	18,94,717	18,94,717
2.	SPML India Ltd		465,116	465,116
3.	Tusk Investments Ltd	Public	755,000	755,000
4.	Vivaya Enterprises Pvt Ltd		23,250	23,250
5.	Jalan Family Office LLP		116,000	116,000
6.	Completion Trade & Commerce Pvt Ltd		116,280	116,280
7.	Maithan International		120,000	120,000
8.	Ritesh Agarwal		37,500	37,500
9.	Shakti Finvest Pvt Ltd		2,79,070	2,79,070
10.	Interglobe Overseas Ltd.		50,000	50,000
11.	Pramod Jain		30,000	30,000
12.	Rishav Digga		244,186	244,186
13.	Arati Chakraborty		37,500	37,500
14.	Rekha Jhunjhunwala		5,625	5,625
15.	Ranjan Sachdeva		47,350	47,350
16.	Ritika Jain		5,250	5,250
17.	Seema Sharma		9,000	9,000
18.	Rajni Sharma		9,000	9,000
TOTAL			42,44,844	42,44,844

Key Allotment Details

Niral Enterprises Pvt. Ltd, identified as a Promoter group entity, received the largest allocation of 18,94,717 shares, representing approximately 44.6% of the total allotment. Among public category allottees, Tusk Investments Ltd received 755,000 shares, while Shakti Finvest Pvt Ltd was allotted 2,79,070 shares. The remaining shares were distributed among various other entities and individuals.

The intimation regarding this allotment has been submitted to both the National Stock Exchange (NSE Scrip Code: SPMLINFRA) and BSE Limited (BSE Scrip Code: 500402) for necessary record and disclosure purposes. The company's registered office is located at 22, Camac Street, Block-A, 3rd Floor, Kolkata 700 016.