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PNN
Mumbai (Maharashtra) [India], June 11: SEPC Limited, (NSE Code: SEPC), (BSE Code: 532945), is one of the leading EPC player in Water and Municipal Services, Roads, Industrial, and Mining sectors, announces the opening of its Rights Issue on Monday, June 09, 2025, aiming to raise Rs 350 Crore. The issue size is 35,00,00,000 equity shares at a face value of Rs 10 each. Rights Issue details: - Right Issue Price - Rs10 Each Share - Payment Terms - Rs5 per share on application. The remaining Rs 5 per share will be called within one or more subsequent calls by the board of the company. - Right Issue Size - Rs350 Crore - Right Entitlement - 11 Shares for every 50 shares held - Record Date - 23rdMay 2025 - Renunciation Of RE - 09thto 17th June 2025 The net proceeds from the Rights Issue will be utilized for Payment of Non-Convertible Debentures (principal and interest), Repayment or pre-payment of existing borrowings, Funding for enhanced margin on non-fund-based limits, to meet existing and additional working capital requirements and for general corporate purposes. Abdulla Mohammad Ibrahim Hassan Abdulla, Chairman and Non-Executive of SEPC Limited expressed "We are delighted to launch our Rights Issue, a key step in enhancing our financial resilience and increasing our operational agility. The proceeds from this issue will be strategically utilized to strengthen our working capital, ensure timely execution of ongoing and upcoming projects across the water, municipal, roads, industrial, and mining sectors, and accelerate the scale-up of our future growth initiatives. In addition, this capital raise will support operational efficiencies, reduce dependency on external borrowings, and position us to capitalize on emerging opportunities in India's infrastructure development landscape." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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