SPML Infra Limited announced a private placement of 10,030,636 common shares at a price of INR 118.56 per share for the gross proceeds of INR 1,189,232,204.16 and 7,158,823 convertible equity warrants at a price of INR 29.64 for the gross proceeds of INR 212,187,513.72 for the total gross proceeds of INR 1,401,419,717.88 on May 23, 2024. The warrants will be convertible into equity shares of the company at an exercise price of INR 88.92 per share. The transaction will include participation from new investor, Delhi Waste Management for 1897,773 warrants, International Constructions Limited for 479,504 shares and 1,043,775 warrants, NARCL for 7,500,272 shares, returning investors, Zoom Industrial Services Ltd. for 1,831,562 shares and 2,108,637 warrants for 15.77%, SPML India Limited for 219,298 shares and 2,108,637 warrants.

The transaction has been approved by the shareholders of the company.