Spectrum Electrical Industries Secures In-Principle Approval for ₹325 Crore Equity & Warrants Issue

Spectrum Electrical Industries Limited has announced receiving in-principle approval from the National Stock Exchange of India Limited and BSE Limited for the issuance and allotment of equity shares and convertible warrants on a preferential basis. The company plans to issue up to 13,73,625 fully paid-up Equity Shares with a face value of ₹10 each, at a price of ₹2,002 per share (including a premium of ₹1,992), aggregating up to ₹274.99 crore. Additionally, up to 2,49,750 convertible warrants will be issued at ₹2,002 per warrant, totaling up to ₹49.99 crore. The total fundraising through this preferential issue amounts to approximately ₹324.99 crore.

The in-principle approvals were communicated via letters dated August 31, 2026, from NSE and BSE. Both exchanges have granted their approval subject to the fulfillment of several conditions, including the filing of listing applications post-allotment, receipt of all statutory and regulatory approvals, and compliance with applicable guidelines and laws. The exchanges have also advised the company to strengthen internal controls to monitor trades executed by proposed allottees and to obtain undertakings from them confirming no intra-day trading or sale of shares until the allotment date, in compliance with SEBI regulations.