Leading water and energy infrastructure company SPML Infra announced on Monday that its promoters will infuse around ₹177 crore to boost the company's growth capital. According to the latest company statement, this substantial promoter investment represents a significant commitment to strengthening the company's financial position and supporting its expansion plans. The preferential allotment was approved through circular resolution passed on 18 July 2026, demonstrating the board's strategic decision to raise capital through preferential routes.
The board of SPML Infra approved a comprehensive preferential allotment through circular resolution passed on 18 July 2026. The company allotted 6,93,999 equity shares of face value ₹2 each at a price of ₹186 per share including premium of ₹184 per share to non-promoters, resulting in an infusion of ₹5.75 crore. Additionally, 3,84,858 equity shares were allotted at the same price to National Asset Reconstruction Company (Non-promoter) on conversion of 7.16 crore existing loan in the company. The equity shares were issued at a price of ₹186 per share, including a premium of ₹184 per share, while the warrants were also priced at ₹186 each.
The company also approved the allotment of 95,39,449 warrants at a price of ₹186 per warrant on preferential basis to both promoter group and non-promoter stakeholders. Each warrant is convertible into equity shares of the company at ₹186 per share including premium of ₹184 per share. The warrants have been allotted to a mix of promoter group entities and non-promoters, with the company receiving the initial 25% of the warrant subscription amount, totalling ₹44.36 crore, with the remaining 75% to be infused at the time of conversion of warrants into equity shares. Upon full conversion of all warrants, the promoter group's shareholding in the company is expected to be close to 42%.
Ace investor Vikay Kedia's wife Manju Kedia has participated in the current preferential issue by subscribing 13,45,000 warrants of SPML Infra. According to Livemint, Vijay Kedia had earlier acquired 14,98,107 shares of SPML Infra in January 2026 through his firm Kedia Securities Ltd. Upon conversion of the warrants, the combined holding of Kedia Securities Ltd. and Manju Vijay Kedia will rise to 28,43,107 shares. On the expanded equity base following the preferential issue and full conversion of all warrants, this translates into a total stake of close to 3% of the company. The warrants have been allotted to entities related to noted investor Vijay Kedia, as confirmed by the company statement.
The preferential allotment involves a total infusion of ₹5.75 crore through the equity share issuance to non-promoters, while the warrant allotment provides additional flexibility for future equity conversion. The company has also raised around ₹177 crore from promoters through the preferential issue, bringing the total capital infusion to approximately ₹182.75 crore. According to the company's disclosure, the allotment was approved through circular resolution on 18 July 2026, indicating the board's strategic decision to raise capital through preferential routes. In accordance with SEBI regulations, the warrants will be converted into equity shares within 18 months from the date of allotment. SPML Infra share price traded lower after the announcement, declining as much as 2.01% to ₹201.65 on the BSE, though the stock has delivered multibagger returns of 1,734% over the past five years.
