PNN
Chennai (Tamil Nadu) [India], May 19: SEPC Limited (formerly Shriram EPC Ltd), a leading EPC services provider, has announced a Rights Issue to raise up to Rs35 crore through the issuance of partly paid-up equity shares. The company's Board of Directors approved the issue terms on May 13, 2025.
The Rights Issue comprises 34.98 crore partly paid-up equity shares at a face value of Rs10 each. The issue price is Rs10 per share, to be paid in two installments--Rs5 on application and the remaining Rs5 on the first and final call. The Record Date to determine shareholder eligibility has been fixed as Friday, May 23, 2025.
The subscription window for the Rights Issue will open on Monday, June 9, 2025, and close on Monday, June 23, 2025. Eligible shareholders will be entitled to subscribe to 11 Rights Equity Shares for every 50 fully paid-up equity shares held as of the Record Date. The total issue size and share allotment are subject to final subscription and completion of the Basis of Allotment.
In a separate development, SEPC has secured five new Operation & Maintenance contracts from Bajaj Energy Private Limited, aggregating to Rs18 million. The contracts pertain to Bajaj Energy's five 45 MW power plants located in Barkhera Kalan, Maqsoodpur, Khambarkhera, Utraula, and Kundarki in Uttar Pradesh. The services are set to commence from May 14, 2025, with a tenure of 12 months for each site.
SEPC Ltd operates across sectors including water and wastewater treatment, infrastructure, power, metallurgy, and mineral processing. Domestic Institutional Investors hold a 25.16% stake in the company, with major shareholders including Punjab National Bank, Central Bank of India, The South Indian Bank, Axis Bank, Bank of India, IndusInd Bank, Union Bank of India, Bank of Baroda, and The Federal Bank.
(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)
