SPML Infra Secures Rs 159 Cr Surety Bond Limit & Wins Rs 21.61 Cr Arbitration Award

SPML Infra Limited has received a surety bond limit of Rs 159 crore from an IRDAI-registered insurer, enhancing its ability to participate in large tenders by providing security in place of traditional bank guarantees. This facility is expected to improve financial flexibility, optimise working capital, and support security requirements for contract awards.

The company has also secured an arbitration award of Rs 21.61 crore from the Chennai Metropolitan Water Supply and Sewerage Board. The award has been granted as per the terms laid out in the arbitration order and remains subject to the conditions specified therein.

Abhinandan Sethi, Managing Director of SPML Infra Limited commented, “This development marks an important milestone for SPML Infra. The Surety Bond facility significantly enhances our ability to participate in large and competitive infrastructure projects while improving financial flexibility and optimizing working capital. The arbitration award reflects the strength of our contractual position and reinforces our commitment to protecting stakeholder interests. Together, these developments further strengthen our balance sheet and support our long-term growth strategy.”