SPML Infra shares traded lower on Monday after the company announced its board of directors had approved raising ₹190 crore through the issuance of preference shares and warrants.
The small-cap stock declined as much as 2% in early trade, reflecting typical market caution around equity dilution despite the high-profile participation in the capital raise.
This follows an earlier acquisition by Vijay Kedia of 1,498,107 shares in January, marking a sustained accumulation strategy by the family in a stock that has surged over 1,700% in the past five years.
The move underscores the continued conviction of ace investor Vijay Kedia, whose family is deepening its position in the infrastructure firm.
Manju Kedia, Vijay Kedia’s wife, subscribed to 1,345,000 warrants in the current preferential issue.
This follows an earlier acquisition by Vijay Kedia of 1,498,107 shares in January, marking a sustained accumulation strategy by the family in a stock that has surged over 1,700% in the past five years.
The capital raise aims to fund the company’s ongoing expansion and project execution capabilities.