Simplex Infrastructures Limited — Others, 17-02-2025: Shareholders meeting

Simplex Infrastructures Limited has announced a board meeting on March 12, 2025, to discuss key actions including the conversion of part of its outstanding loan from the National Asset Reconstruction Company Limited (NARCL) into equity shares, potentially resulting in NARCL holding 15% of the company's equity on a fully diluted basis. It aims to issue up to 1,00,84,027 equity shares at ₹281.36 each, raising approximately ₹283.72 crore. This restructuring is anticipated to bolster the company’s equity base, enhancing investor sentiment with a positive outlook as the company navigates financial challenges and aims for growth. Additionally, the company seeks shareholder approval for a Qualified Institutional Placement (QIP) to raise up to ₹600 crore, potentially increasing liquidity and funding operational needs. The board also plans to enhance borrowing limits and may secure assets as collateral to support its growth strategy.