SPML Infra has received a Surety Bond limit of Rs 1.59 billion from an insurer registered with the Insurance Regulatory and Development Authority of India (IRDAI), strengthening the company’s ability to participate in large and competitive infrastructure tenders. The Surety Bond facility allows SPML Infra to furnish security in place of traditional bank guarantees, improving financial flexibility and optimising working capital utilisation.

The facility is expected to support the company in bidding for new projects by easing the requirement for bank guarantees at the time of contract awards, thereby enhancing liquidity and balance sheet efficiency.

In a separate development, SPML Infra has also secured an arbitration award of Rs 216.1 million from the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB). The award has been granted in accordance with the terms and conditions set out in the arbitration order and remains subject to the conditions stipulated in the award.

Commenting on the developments, Abhinandan Sethi, Managing Director, SPML Infra, said, “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 optimising 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.