Simplex Castings Approves Capital Increase and Fund Raising

Simplex Castings Limited's Board of Directors has approved a significant increase in authorized share capital from Rs. 10 Crores to Rs. 15 Crores. The company also plans to raise funds through a preferential issue of equity shares worth up to Rs. 47.15 Crores and warrants convertible into equity shares worth up to Rs. 52.55 Crores. These proposals are subject to shareholder approval at an upcoming Extra Ordinary General Meeting. Additionally, Mr. Urlam Jaya Manmadha Rao has been appointed as an Additional Director, designated as Non-Executive Independent Director, for a term of five years.