Salzer Electronics, one of the leading players in Electrical Solutions in India, has successfully closed a Qualified Institutions Placement (QIP) to raise Rs 62.06 crore. The company will issue 26.41 lakh shares at Rs 235.00 per share. The overall allocation to institutional investors is approximately 55% from FII and rest 45% from domestic mutual funds, ensuring a well diversified representation and demand.
Emkay Global Securities was the Book Running Lead Manager to the QIP issue. The Legal Advisors to the transaction were Crawford Bayley. The statutory auditors were Swamy & Ravi, Coimbatore. Stellar IR Advisors is the Investor Relations Advisor to the company.
Salzer Electronics was established in 1985 to design and manufacture world-class Cam Operated Rotary switches in time bound Technical Collaboration with Saelzer Schaltgerate Fabrik, GmbH., Germany. In a sector where high precision and uncompromising standards are demanded, Salzer stands out both in supply and service, true to its leadership position.
