SPML Infra to issue shares to NARCL, maintain equity stake

SPML Infra Ltd. will hold an Extra Ordinary General Meeting (EGM) on Wednesday, December 10, 2025, at 12:30 P.M. via video conference. The primary agenda includes approving the preferential issuance of 1,144,436 equity shares to National Asset Reconstruction Company Limited (NARCL) by converting an existing loan. These shares, with a face value of INR 2/- each, will be issued at a price of INR 276 per equity share, including a premium of INR 274 per share, totaling INR 31,58,64,336.

This allotment is intended to maintain NARCL's shareholding at 12.5% of the company's paid-up equity share capital, as required by a Master Restructuring Agreement dated May 17, 2024. The shares will be fully paid up at the time of allotment, rank pari-passu with existing equity shares, and be listed on stock exchanges. The relevant date for determining the issue price is November 10, 2025, which is 30 days prior to the EGM.

Additionally, the EGM will consider a special resolution to approve an annual remuneration of INR 10,00,000 to Tharuvai Venugopal Rangaswami, nominee director representing NARCL, for the financial year 2025-26. This remuneration is in addition to his sitting fees for attending board and committee meetings.