SPR Auto Technologies Limited has announced the successful closure of its Qualified Institutions Placement (QIP). The Finance and Investment Committee approved the allocation of 23,36,448 Equity Shares at an issue price of ₹4,280.00 per share, representing a discount to the floor price. The placement document and confirmation of allocation notes have been finalized and will be filed shortly.
QIP Closure and Share Allocation Approved
SPR Auto Technologies Limited has officially concluded its Qualified Institutions Placement (QIP), a process initiated on August 17, 2026. The company’s Finance and Investment Committee met on August 20, 2026, to approve key resolutions concerning the closure and allocation of the issue.
Key Resolutions Passed
The committee approved the closure of the Issue on August 20, 2026, following the receipt of all necessary application forms and funds from eligible qualified institutional buyers (QIBs). Crucially, the committee determined and approved the allocation of 23,36,448 Equity Shares at an issue price of ₹4,280.00 per Equity Share. This price represents a discount of ₹158.20 per Equity Share (3.56%) to the floor price of ₹4,438.20 per Equity Share.
Placement Document and Confirmation
Furthermore, the committee approved and adopted the placement document dated August 20, 2026, which details the terms of the Issue. They also approved and finalized the confirmation of allocation note to be sent to Eligible QIBs, informing them of their respective share allocations.
Filings and Next Steps
The company confirmed that the placement document dated August 20, 2026, will be filed with the BSE Limited and the National Stock Exchange of India Limited on the same day. The meeting of the Finance and Investment Committee commenced at 8:30 PM and concluded at 8:45 PM on August 20, 2026.
Source: BSE
