SPR Auto Technologies Limited (formerly Shriram Pistons & Rings Limited) announced its Finance and Investment Committee has approved a Qualified Institutions Placement (QIP) of equity shares. The committee has fixed the floor price for the issue at ₹4,438.20 per equity share. This move aims to raise capital through eligible qualified institutional buyers under SEBI regulations, with the potential for a discount of up to 5% on the floor price. The company will file the preliminary placement document with stock exchanges today, August 17, 2026.
SPR Auto Technologies Approves Qualified Institutions Placement
SPR Auto Technologies Limited, formerly known as Shriram Pistons & Rings Limited, has taken a significant step towards capital raising by approving a Qualified Institutions Placement (QIP). The decision was made by the company’s Finance and Investment Committee during a meeting held on August 17, 2026.
Key Approvals and Floor Price
The committee authorized the opening of the QIP on the same day, August 17, 2026. A crucial aspect of this approval is the fixation of the floor price for the issuance of equity shares. The floor price has been set at ₹4,438.20 per equity share. This price has been determined based on the pricing formula stipulated by SEBI ICDR Regulations.
Furthermore, the committee approved the preliminary placement document, which will be circulated to eligible qualified institutional buyers. The document invites bids for the subscription of equity shares as part of this placement. The company has also established August 17, 2026, as the ‘relevant date’ for the purpose of this issue, aligning with regulatory requirements.
Potential Discount and Next Steps
In accordance with SEBI ICDR Regulations and shareholder approval obtained via a special resolution on July 27, 2026, SPR Auto Technologies may offer a discount of up to 5% on the determined floor price. The final issue price will be determined in consultation with the Lead Managers appointed for the QIP. The company intends to file the preliminary placement document with the BSE Limited and the National Stock Exchange of India Limited on the same day of the announcement.
Trading Window Closure
In compliance with the Company’s Code for Prevention of Insider Trading and SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the company’s securities has been closed for all designated persons and their immediate relatives. This closure commenced on August 17, 2026, and will remain in effect until 48 hours after the determination of the issue price.
Source: BSE
