SPML Infra Limited secured shareholder approval at its EGM on May 16, 2026 for a ₹190.34 crore preferential issue comprising equity shares and warrants. The funds will finance BESS capacity expansion from 2.5 GWh to 5 GWh, establish a 600-unit per annum container manufacturing facility, support working capital requirements of ₹37.39 crores, and general corporate purposes of ₹45.79 crores. The issue includes 3,09,141 equity shares, 95,39,449 warrants, and 3,84,858 shares through loan conversion to NARCL, all priced at ₹186 per share.

SPML Infra EGM Approves ₹190.34 Cr Preferential Issue for BESS Expansion

SPML Infra Limited has successfully convened its Extraordinary General Meeting (EGM) on May 16, 2026, through video conferencing, securing shareholder approval for a comprehensive preferential issue aggregating ₹190.34 crores. The fundraising initiative comprises equity shares and warrants through fresh fund infusion and loan conversion mechanisms to support the company's expansion initiatives.

Preferential Issue Structure

The board has approved a multi-component preferential issue designed to strengthen the company's financial position. The issue includes three distinct components targeting different investor categories.

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

Allottee Categories and Distribution

The preferential issue encompasses 23 proposed allottees across different categories, including promoter group entities and public investors. Notable allocations include National Asset Reconstruction Company Ltd receiving equity shares worth ₹7.16 crores through loan conversion. Promoter group entities Zoom Industrial Services Limited, Niral Enterprises Pvt Ltd, and Rishabh Homes Private Limited are among the major warrant recipients. The relevant date for determining the issue price is April 16, 2026.

Capital Expenditure Enhancement

The board has approved a substantial increase in capital expenditure to support the expansion of Battery Energy Storage System (BESS) capacity. The enhancement will enable the company to double its storage capabilities and establish container manufacturing facilities.

Expansion Component Specification BESS Capacity Increase From 2.5 GWh to 5 GWh Container Manufacturing 600 units per annum capacity Capital Expenditure ₹100 crores Working Capital Requirements ₹37.39 crores General Corporate Purposes ₹45.79 crores

Equity Shares and Warrants Details

The preferential issue includes equity shares of face value ₹2 each at an issue price of ₹186 per share, incorporating a premium of ₹184 per share. All allotments will be made to non-promoter entities in accordance with SEBI (Issue of Capital and Disclosures Requirements) Regulations, 2018. The warrants component represents the largest portion of the fundraising, with each warrant convertible into one equity share within 18 months of allotment. Warrants carry nil interest and do not confer voting rights until conversion.

Regulatory Approvals and Timeline

The EGM held on May 16, 2026, secured necessary shareholder approvals for the preferential issue. All proposed allotments remain subject to approval from relevant stock exchanges. The equity shares will be subject to lock-in requirements as per SEBI (ICDR) Regulations, 2018. The company engaged National Securities Depository Limited (NSDL) to facilitate the e-voting and virtual meeting process. The allotment of equity shares shall be completed within 15 days from the date of passing the special resolution, subject to receipt of regulatory approvals.

Source: None/Company/INE937A01023/9009c34c5d6645e6.pdf

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.

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