SPML Infra Ltd allots 2,775,000 shares, 3,404,930 CCPS

The Board of Directors of SPML Infra Ltd at its Meeting held on 07th March, 2022, has considered and approved the allotment of 2,775,000 Equity Shares of face value of Rs. 2/- each at a price of Rs. 50/- per equity share including premium of Rs. 48/- per equity share, on preferential basis to Promoters and Promoter Group.

The board also approved the allotment of 3,404,930 Compulsorily Convertible Preference Shares (CCPS) of face value of Rs. 100/- each of the Company, aggregating to Rs 34.05 Crs. on preferential basis to Promoters and Promoter Group by conversion of their existing unsecured loan in the Company. Same shall be converted into Equity Shares of the Company at Rs. 50/- including premium of Rs. 48/- per share. Each CCPS shall be converted into 2 equity shares of the Company within 18 months of the allotment.

Shares of SPML Infra Limited was last trading in BSE at Rs. 47.90 as compared to the previous close of Rs. 48.40. The total number of shares traded during the day was 7078 in over 38 trades.

The stock hit an intraday high of Rs. 50.00 and intraday low of 46.15. The net turnover during the day was Rs. 333520.00.

Source : Equity Bulls

Keywords

SPMLInfra INE937A01023 PreferentialAllotment CCPS EquityShares PromoterGroup LoanConversion