SPML Infra Limited , a leading water infrastructure development company in India, has clinched a significant contract worth Rs. 1073.00 crore from the Indore Municipal Corporation. The project, awarded under the AMRUT 2.0 scheme, aims to augment the city's water supply system, catering to over 2 million residents of Indore.

Project Scope and Timeline

The comprehensive project encompasses several key components:

1. Construction of a 1,650 MLD capacity intake facility
2. Development of a 400 MLD water treatment plant
3. Establishment of clear water booster pumping stations
4. Installation of 22 kilometers of pipeline (1200 mm to 2337 mm diameter)
5. Setting up of a 132/33 kV power substation

The Engineering, Procurement, and Construction (EPC) portion of the project is slated for completion within 30 months, including rainy seasons, from the contract signing date.

Long-term Operations and Maintenance

In addition to the construction phase, SPML Infra has secured a 10-year Operation and Maintenance (O&M) contract. This long-term agreement ensures the optimal performance of the water supply system and includes structured escalation provisions.

Strategic Importance

Mr. Subhash Sethi, Chairman of SPML Infra Limited, emphasized the project's significance, stating, "The scope of this project is truly unique, placing SPML Infra among a handful of companies worldwide with the capability to design and deliver such an integrated water infrastructure system."

The project aligns with India's vision of making cities "water secure" and self-reliant under the AMRUT 2.0 initiative launched by the Government of India.

Financial Impact

The contract value of Rs. 1073.00 crore (inclusive of GST) represents a substantial addition to SPML Infra's project portfolio. The company disclosed this information to the stock exchanges on August 19, 2025, in compliance with SEBI regulations.

Upcoming Investor Meeting

In a separate announcement, SPML Infra informed the stock exchanges that it will be participating in a Water & Recycling Conference hosted by Ashika Group on August 22, 2025, in Mumbai. The company plans to engage with investors and analysts, sharing publicly available information about its operations and projects.

SPML Infra's latest contract win reinforces its position as a key player in India's water infrastructure sector, contributing to the country's development goals while potentially enhancing shareholder value.

SPML Infra Limited, a prominent player in the construction sector, has released its monitoring agency report for the quarter ended June 30, detailing the utilization of funds raised through a preferential issue of equity shares and warrants. The report, prepared by ICRA Limited, sheds light on the company's financial maneuvers and strategic allocations.

Fund Raising and Allocation

SPML Infra initially aimed to raise Rs 300.00 crore but due to under-subscription of equity shares, the final amount stood at Rs 292.58 crore. The funds were raised through a preferential issue priced at Rs 215.00 per share, comprising both equity shares and warrants. The allocation of these funds was strategically planned:

Utilization Progress

As of June 30, SPML Infra has utilized Rs 71.14 crore of the raised funds:

• Rs 66.64 crore for working capital requirements
• Rs 4.50 crore for loan repayment to National Asset Reconstruction Company Limited (NARCL)

Notably, the company has yet to tap into the allocated margin money, which remains fully unutilized at Rs 121.91 crore.

Current Fund Status

The monitoring report indicates that SPML Infra has Rs 221.44 crore in unutilized proceeds. However, it's important to note that this figure reflects the total planned allocation, while the actual unutilized amount is Rs 103.49 crore. This discrepancy arises because only 25% of the proceeds have been received against the warrants.

The unutilized funds are currently deployed as follows:

• Rs 80.98 crore in the monitoring account
• Rs 25.00 crore in fixed deposits with Bank of Maharashtra, earning a 7.60% return

Implementation Timeline

ICRA's report confirms that all objects of the fund utilization remain on schedule, with a 24-month completion timeline. The company has not reported any delays in implementing its planned objectives for margin money, working capital, or general corporate purposes.

Regulatory Compliance

In compliance with SEBI regulations, SPML Infra has submitted this report to both the National Stock Exchange and BSE Ltd. The monitoring agency, ICRA Limited, has declared no deviation from the stated objects of the issue, affirming that the fund utilization aligns with the company's disclosed plans.

Looking Ahead

As SPML Infra continues to deploy its raised capital, investors and market watchers will likely keep a close eye on how effectively the company utilizes these funds to strengthen its financial position and support its operational needs in the competitive construction sector.

The company's judicious use of the preferential issue proceeds, particularly in bolstering its working capital and settling outstanding loans, suggests a focused approach towards enhancing its financial stability and operational efficiency.