SRM Contractors Approves Capital Increase & ₹150 Cr QIP

SRM Contractors Limited's Board of Directors approved a significant increase in authorized share capital from ₹25 crore to ₹35 crore. The company also greenlit a Qualified Institutions Placement (QIP) of up to ₹150 crore and a preferential issue of 19,34,236 convertible warrants to promoters for ₹100.00 crore. A fund-raising committee was constituted to oversee these processes. The draft notice for the Annual General Meeting (AGM) to seek shareholder approval for these proposals was also approved.