SPML Infra has allocated 11.44 lakh shares to the National Asset Reconstruction Company Limited (NARCL) at ₹276.00 per share as part of a loan conversion arrangement. This transaction represents a significant corporate action involving the infrastructure development company and the government-backed asset reconstruction entity.

Share Allocation Details

The share allocation transaction involves specific parameters that highlight the scale and nature of this corporate development:

Corporate Action Context

This allocation represents a loan-to-equity conversion mechanism, where existing debt obligations are being restructured through equity participation. NARCL, as the recipient of these shares, is a government-backed asset reconstruction company that plays a crucial role in the resolution of stressed assets in the Indian banking sector.

The conversion price of ₹276.00 per share establishes the valuation basis for this transaction, providing NARCL with an equity stake in SPML Infra's operations. This mechanism allows the infrastructure company to address its debt obligations while providing NARCL with potential upside participation in the company's future performance.

Transaction Implications

The share allocation to NARCL reflects the ongoing asset resolution processes in India's financial sector. For SPML Infra, this conversion provides a structured approach to managing debt obligations while maintaining operational continuity. The transaction demonstrates the company's engagement with asset reconstruction mechanisms as part of its financial restructuring efforts.

This development adds NARCL as a stakeholder in SPML Infra's equity structure, potentially influencing the company's governance and strategic direction going forward. The conversion also represents NARCL's investment in the infrastructure sector through its asset resolution mandate.

SPML Infra Limited has successfully completed the allotment of 11,44,436 equity shares to National Asset Reconstruction Company Limited (NARCL) through a debt-to-equity conversion worth Rs. 31.58 crores. The Board of Directors approved the allotment through a Circular Resolution passed on December 31, 2025.

Allotment Details

Regulatory Compliance

The allotment has been undertaken in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended and other applicable rules and regulations prescribed by regulatory or statutory authorities. NARCL, being a non-promoter entity, received the shares on a preferential basis as part of the debt conversion arrangement.

Background and Strategic Context

This allotment was previously announced as part of SPML Infra's efforts to maintain NARCL's 12.5% shareholding in the company, as required under their Master Restructuring Agreement. The conversion was initially planned to be approved at an Extraordinary General Meeting, but has now been executed through board resolution, demonstrating the company's commitment to its restructuring agreement.

Shareholding Impact

With this allotment completed, NARCL's shareholding position in SPML Infra has been maintained as per the restructuring agreement terms. The debt-to-equity conversion helps optimize the company's capital structure while ensuring compliance with the agreed shareholding requirements.

Market Communication

The company has informed both NSE (Scrip Code: SPMLINFRA) and BSE (Scrip Code: 500402) about the allotment completion as per Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. Company Secretary Swati Agarwal signed the regulatory filing confirming the allotment details.