Salasar Techno Engineering board allots 3 crore equity shares to QIBs; Stock gains 2%

7 Sep 2022 , 12:10 PM

Salasar Techno Engineering Ltd has informed that the Fund Raising Committee of the Board of Directors of the Company at its meeting held on September 06, 2022 has inter alia approved the issuance and allotment of 3,00,00,000 Equity Shares to qualified institutional buyers in present tranche at the issue price of Rs27.30 per Equity Share (including a premium of Rs26.30 per Equity Share), aggregating to Rs81,90,00,000 (Rupees Eighty One Crore Ninety Lakh).

As per regulatory filing, pursuant to the allotment of Equity Shares in the Issue, the paid-up Equity Share capital of the Company stands increased from Rs28,57,05,280 to Rs31,57,05,280.

The committee meeting was commenced at 03:30 P.M. and concluded at 04:30 P.M. on Tuesday.

At around 12:09 PM, Salasar Techno Engineering Ltd is currently trading at Rs34 per share up by Rs0.75 or 2.26% from its previous closing of Rs33.25 per share on the BSE.

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