Salasar Techno Engineering Ltd. (BSE: 540642, NSE: SALASAR), has informed Exchanges that it plans to raise a capital of Rs 200 Cr via various channels. “The board has approved raising of funds by issuance and allotment of equity shares for up to an aggregate amount of Rs 200 crore by way of preferential allotment and/or through QIP, FCCB, ADRs, GDRs issues, or to the existing shareholders on the right basis, or in any combination thereof,” it said. In this regard, the board also approved a proposal to constitute a fundraising committee. The fund will be raised in one or more tranches, it said in a regulatory filing.
Additionally, the company has fixed Tuesday, June 28, 2022, as the Record Date for the purpose of determining the sub-division/split of equity shares, as well as, the eligibility of shareholders for the purpose of dividing/splitting each equity share with a face value of Rs. 10 each. The stock split will be in the ratio of 10:1; 10 equity shares with a face value of Rs. 1 each, fully paid up.
Further, the Board of Directors approved an increase in Authorised Capital from 31.50 Crore to 35 Crore.
Salasar Techno Engineering Ltd. is a provider of customised steel fabrication and infrastructure solutions in India. The Company provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment. Its products include telecommunication towers, power transmission line towers, smart lighting poles, monopoles, guard rails, substation structures, solar module mounting structures and customized galvanized & non-galvanized steel structures.
Salasar Techno Engineering Limited’s services include providing complete engineering, procurement and control for projects such as Railway Electrification, Rural Electrification, Power Transmission Lines, and Solar Power Plants.
Salasar Techno Engineering is among the leading manufacturers of telecom towers and one of India’s leading multi-conglomerates in the Engineering and Infrastructure industry. The company is continuously growing. Earlier, last year, Salasar Adorus Infra LLP, a subsidiary of Salasar Techno Engineering, commenced implementation for orders from Bangalore Metro Corporation Rail Project, estimated to be worth Rs 252 crore.
Several renowned projects for national infrastructure development have been completed by the company. It has successfully executed projects for UPPCL, HVPNL (Haryana), PTCUL (UK), HPPTCL (HP) and other government entities. Salasar has a prestigious clientele in 25+ Countries worldwide including ITI, Indus Towers, All India Radio, American Towers, etc.
“Salasar Techno Engineering Ltd. is decarbonising India’s power sector to achieve sustainability.