SPML Infra Promoters Infuse Rs 177 Cr; Vijay Kedia Ups Stake

Mumbai, Jul 20 (PTI) Leading water and energy infrastructure company SPML Infra on Monday said its promoters will infuse around Rs 177 crore to boost its growth capital.

The company has also raised around Rs 5.75 crore from non-promoter entities through a preferential issue and converted debt of Rs 7.16 crore from National Asset Reconstruction Company Ltd (NARCL) into equity, a statement said on Monday.


"The company has allotted 6,93,999 equity shares and 95,39,449 convertible warrants on a preferential basis, in a move aimed at raising fresh growth capital and converting existing debt into equity," it said.

The equity shares were issued at a price of Rs 186 per share, including a premium of Rs 184 per share, while the warrants were also priced at Rs 186 each.

The warrants have been allotted to a mix of promoter group entities and non-promoters, including an entity related to noted investor Vijay Kedia, the company said. After the full conversion of warrants, total stake of Kedia and his associates will increase to around 3 per cent, it added.