SEPC Limited , a company listed on the National Stock Exchange and Bombay Stock Exchange, has announced a significant update regarding its recent rights issue. The company has successfully received call money payments for 30.07 crore partly paid-up equity shares out of the 35 crore shares for which First and Final Call Notices were sent.

Key Developments

• Conversion to Fully Paid-up Shares: The Rights Issue Committee of SEPC Limited has approved the conversion of 30.07 crore partly paid-up equity shares into fully paid-up equity shares upon receipt of the final call money of ₹5 per share.

• Call Period: The company had set the call period from October 24 to November 7, with September 30 as the record date for the payment of the First and Final Call money.

• Second Opportunity: For shareholders who missed the initial payment window, the committee has approved the issuance of reminder call letters, providing a second chance to complete the payment for their partly paid-up shares.

Rights Issue Details

Impact and Next Steps

The conversion of these shares to fully paid-up status marks a significant milestone in SEPC Limited's capital raising efforts. The company's decision to offer a second opportunity for payment demonstrates its commitment to accommodating shareholders who may have missed the initial deadline.

Investors and market participants should note that this corporate action may affect the company's share structure and potentially its market valuation. Shareholders who have not yet paid the First and Final Call money should be on the lookout for the reminder call letters to avail of the second opportunity provided by the company.

SEPC Limited has not disclosed the specific use of the funds raised through this call money, but typically, such capital is utilized for business expansion, debt reduction, or other corporate purposes.

As this corporate action unfolds, stakeholders are advised to keep an eye on further announcements from SEPC Limited regarding the completion of the rights issue process and any subsequent changes to the company's capital structure.

SEPC Limited has reported a significant boost to its order book, securing contracts totaling ₹550.62 crore. This development underscores the company's strong operational momentum and execution capabilities across domestic and international markets.

Order Details

The company has secured multiple orders, which can be summarized as follows:

*Approximately ₹32.63 crore at the exchange rates prevailing at the time of receipt (AED 13.5 million)

Key Highlights

1. Irrigation Project: The largest order, valued at ₹442.80 crore, comes from the Water Resources Department for the execution of the Jamaniyan to Kakrait Gangajal Lift Irrigation Scheme in Kaimur district. This project, part of the Pragati Yatra initiative, aims to improve water availability for agricultural and allied activities in the region.

2. Construction Materials Supply: SEPC has received a purchase order worth ₹75.19 crore from Gefos Solutions Private Limited for the supply of construction materials.

3. International Expansion: The company has secured an international order valued at AED 13.5 million (approximately ₹32.63 crore) from Avenir International Engineers and Consultants LLC in Abu Dhabi. This order involves providing engineering services for projects under the Abu Dhabi National Oil Company (ADNOC).

Financial Performance

SEPC Limited reported the following standalone financial results:

These new orders, totaling ₹550.62 crore, represent a significant portion of the company's annual revenue, potentially indicating strong growth prospects for the upcoming quarters.

SEPC's ability to secure diverse projects, including a major domestic irrigation contract and an international order in the oil and gas sector, demonstrates the company's versatility and expanding market presence. The substantial order inflow may contribute to improved financial performance and enhanced shareholder value in the coming periods.

Investors and stakeholders should note that while these orders signify positive operational momentum, execution timelines and scheduling, particularly for the international project, are subject to confirmation by the awarding entities. As always, market participants are advised to conduct their own research and consider various factors before making investment decisions.