The fund-raising committee of Salasar Techno Engineering has approved a proposal to raise around Rs 820 million from foreign portfolio investors (FPIs) through issuance of equity shares to qualified institutional buyers.
The committee has approved the issuance and allotment of 30,000,000 equity shares to qualified institutional buyers in present tranche at the issue price of Rs 27.30 per equity share (including a premium of Rs 26.30 per equity share), aggregating to Rs 819,000,000.
Besides, the company disclosed that four FPIs – Forbes EMF, Nomura Singapore, Maybank Securities PTE Limited and A G Dynamic Funds – have been allotted the equity shares offered in the issue. Meanwhile, with regard to the proportion of share allotment, the company revealed that Forbes EMF, Nomura Singapore, Maybank Securities PTE Limited and A G Dynamic Funds will be allotted 45 per cent, 42 per cent, 8 per cent and 5 per cent, respectively.
