SEPC Limited announced that its Board of Directors, in a meeting held on February 02, 2026, has approved a variation in the objects of the Rights Issue, as initially set out in the Letter of Offer dated May 22, 2025. Originally, ₹140 Crores from the Rights Issue proceeds were earmarked for the repayment or redemption of Non-Convertible Debentures, including coupon payments. The company has made efforts to utilize these funds as per the terms, but the entire ₹140 Crores allocated for this purpose remains unutilized, and the company does not anticipate using it in the near future. Consequently, the Audit Committee recommended reallocating this amount. The Board has now approved that the said proceeds may be utilized towards: ₹15.80 Crores for continuing the repayment/redemption of Non-Convertible Debentures (including coupon payment), and ₹124.20 Crores for meeting the company's existing and incremental working capital requirements. This variation is subject to shareholder approval via a postal ballot, in accordance with Section 27 of the Companies Act, 2013, and applicable SEBI regulations. A Notice of Postal Ballot, along with an explanatory statement, will be circulated to shareholders and filed with the stock exchanges in due course. The Board meeting commenced at 02:00 PM and concluded at 5:30 PM.
