Simplex Castings Approves Fund Raising and Capital Increase

Simplex Castings Limited's Board of Directors has approved a significant fund-raising plan and an increase in authorized share capital. The company will raise up to ₹47.15 crore by issuing equity shares to non-promoter investors on a preferential basis and up to ₹52.55 crore through warrants convertible into equity shares. This move is subject to shareholder and regulatory approvals. Additionally, the authorized share capital will be increased from ₹10 crore to ₹15 crore. The board also approved the appointment of Mr. Urlam Jaya Manmadha Rao as an Additional Director.