Salasar Techno Engineering is coming with an initial public offering (IPO) to raise Rs 35.86 crore. The issue will open on July 12, 2017 and will close on July 17, 2017. The company’s shares are proposed to be listed on the BSE and NSE.
The public issue comprises 33.21 lakh equity shares of face value of Rs 10 each fully paid for cash at a price of Rs 108 per equity share aggregating Rs 35.86 crore. The net proceeds from the issue will be utilized for meeting working capital requirements and general corporate purposes. Sarthi Capital Advisors is the sole book running lead manager to the issue.
Rajasthan-based Salasar Techno Engineering provides customized steel fabrication and infrastructure solutions for telecommunication towers, transmission towers and substation structures and solar module mounting structures. The company provides 360 degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment.
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