SPEL Semiconductor Limited at its board meeting held on February 9, 2024, approved the investment of INR 1,100 million in 2 phases (INR 550 million in each phase) towards expansion of capacity of existing packaging portfolio to improve Sales to INR 1,500 million in phased manner. The board has reviewed and approved for the Investment of INR 1,100 million (INR 1,000 million for Plant & Machinery and INR.100 million towards working capital in 2 phases as mentioned below) by passing resolution as required. (Raising INR 35 Crores debt fund in two phases).

SPEL Semiconductor Ltd. is Poised to Expand its IC Assembly, Packaging & Test Capacity and Capability. SPEL wants to add the below mentioned Advanced Packages in its product portfolio. a) Advanced QFN packages such as High Density, Flipchip QFN, stacked version and Double row.

b) Power packages with Cu Clip attach, Exposed Pad packages, Multichip configuration c) Laminate packages with a wide variant. d) Wafer level packaging. The Company has set forth ambitious expansion plans.

With an investment of INR 6,000 million, the sales target is to exceed Annual sales of INR 10,000 million in about 5 years span of time. It is planned to achieve this by expanding Capacity and Capability in existing factory location as well as establishing 2nd Manufacturing facility within India as Greenfield unit with focus on Ball Grid Array Packages. The Company plans to raise funds through a combination of Debt and Equity for this investment.

The Company is working with Financial Institutions towards finalizing financial closure for the proposed INR 1,100 million immediate Investment plan in Phase 1. Project Plan: Location: SPEL Semiconductor Ltd, 5-CMDA Industrial area, M.M.Nagar, Chennai 603209 India.