Salasar Techno Engineering IPO oversubscribed 1.55 times

The IPO, which would close on July 17, received bids for 51,47,250 shares against the total issue size of 33,21,000 shares, data available with the NSE at the end of the day showed.

July 13, 2017 / 08:45 IST

IPO

The initial public offer (IPO) of infrastructure firm Salasar Techno Engineering was oversubscribed 1.55 times on the first day of bidding today.

The IPO, which would close on July 17, received bids for 51,47,250 shares against the total issue size of 33,21,000 shares, data available with the NSE at the end of the day showed.

The issue comprises 33.21 lakh equity shares at a price of Rs 108 per equity share aggregating to Rs 35.86 crore.

Proceeds from the issue will be utilised for meeting working capital requirements and general corporate purposes.

Rajasthan-based Salasar Techno provides customised steel fabrication solutions in the domestic market.

Sarthi Capital Advisors Private Limited is the book running lead manager to the offer.

The equity shares are proposed to be listed on the NSE and BSE.

first published: Jul 13, 2017 08:26 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347