Simplex Castings Board Approves Capital Increase & Preferential Issue

Simplex Castings Limited's Board of Directors has approved a significant increase in authorized share capital from Rs. 10 Crores to Rs. 15 Crores. Additionally, the company plans to raise funds through a preferential issue of equity shares and warrants. The equity share issue involves up to 44,90,791 shares at Rs. 105 each, aggregating up to Rs. 47.15 Crores. The warrant issue involves up to 50,05,195 warrants convertible into equity shares at Rs. 105 each, aggregating up to Rs. 52.55 Crores. Both are subject to shareholder and regulatory approvals. The board also appointed Mr. Urlam Jaya Manmadha Rao as an Additional Director, Non-Executive Independent Director.