Nature of the Event

SPR Auto Technologies Limited (formerly Shriram Pistons & Rings Limited) has announced the commencement of a Qualified Institutions Placement (QIP) of equity shares.

Key Quantitative Figures

  • The total issue size is for an aggregate amount of up to ₹10,000 Million (Rupees Ten Thousand Million).
  • The floor price for the QIP has been set at ₹4,438.20 per equity share of face value ₹10 each.
  • The company may offer a discount of not more than 5% on this floor price.

Dates of Action and Approval

  • Board Approval Date: May 11, 2026
  • Shareholder Approval Date: July 27, 2026 (via a special resolution)
  • Finance and Investment Committee Meeting: August 17, 2026 (commenced at 07:00 PM, concluded at 7:20 PM)
  • Issue Opening Date: August 17, 2026
  • Relevant Date for Pricing: August 17, 2026
  • Trading Window Closure: The window for designated persons and their immediate relatives is closed from August 17, 2026, and will reopen 48 hours after the final issue price is determined.

Parties Involved

  • Issuer: SPR Auto Technologies Limited
  • Regulators: Securities and Exchange Board of India (SEBI), BSE Limited, National Stock Exchange of India Limited
  • Counterparties: Eligible qualified institutional buyers

Purpose and Regulatory References

The QIP is being undertaken under:

  • Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations).
  • Sections 42 and 62 of the Companies Act, 2013.

The floor price was calculated as per the pricing formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations. The 'relevant date' for the issue was fixed as per Regulation 171(b)(i) of the SEBI ICDR Regulations.

The disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and refers to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Financial and Operational Impact

The issuance will result in an inflow of up to ₹10,000 Million upon successful completion. The final issue price and the number of shares to be issued will be determined by the company in consultation with the Lead Managers, resulting in equity dilution.

Capital Structure Impact

The issuance will increase the company's paid-up share capital. The extent of dilution will be known once the final issue price and number of shares are determined.