Salasar Techno Engineering oversubscribed by 11.01 times

India Infoline News Service | Mumbai | July 15, 2017 11:32 IST

On its third day of subscription on Friday, the IPO issue got oversubscribed by 11.01 times as of 1700 hours.

IPO
Salasar Techno Engineering from the steel sector has come up with initial public offerings (IPO). On its third day of subscription on Friday, the IPO issue got oversubscribed by 11.01 times as of 1700 hours.
 
The total issue size stands at 33,21,000 shares. Total bids received stood at 3,65,54,375 shares and total bids received at cut-off price stood at 1,63,69,250 shares.
 
The company is raising funds to meet the working capital requirements of the company including margin money, for general corporate purpose and to meet the issue expenses.
 
Salasar Techno Engineering IPO issue has opened on July 12, 2017 and will close on July 17, 2017. The issue is going to follow fixed price IPO wherein the issue price is fixed at Rs 108 per share.
 
The minimum order quantity is one lot wherein one lot contains 125 equity shares. Company's products include telecommunication towers, power transmission line towers, smart lighting poles, monopoles, guard rails, substation structures, solar module mounting structures, and customized galvanized and non-galvanized steel structures.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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