Simplex Castings Increases Authorized Capital by ₹5 Cr, Plans ₹99.7 Cr Fundraise

Simplex Castings Limited's Board of Directors has approved a significant increase in the company's authorized share capital from ₹10 crore to ₹15 crore. This move is subject to shareholder approval at an upcoming Extra Ordinary General Meeting (EGM). Additionally, the company plans to raise approximately ₹99.7 crore through a preferential issue of equity shares and warrants to non-promoter and promoter/non-promoter investors, respectively. The issue price for both instruments is set at ₹105 per share/warrant. The board also approved the appointment of Mr. Urlam Jaya Manmadha Rao as an Additional Director (Non-Executive Independent Director).