Salasar Techno board okays `806-cr fund raising plan
Salasar Techno Engineering Ltd (STEL) said that its board has approved a proposal to raise Rs806.4 crore through the issuance of equity shares and warrants.
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New Delhi: Salasar Techno Engineering Ltd (STEL) said that its board has approved a proposal to raise Rs806.4 crore through the issuance of equity shares and warrants.
However, the proposal remains subject to shareholders’ approval at the company’s extraordinary general meeting (EGM) scheduled for February 19, Salasar Techno Engineering said in an exchange filing.
“The board approved fundraising of Rs 8064 million...by way of creating, issuing and allotting up to 3.97 crore equity shares having face value of Re 1...By way of creating, issuing and allotting up to 7.30 crore fully convertible warrants into an equivalent number of fully paid up equity shares, having face value of Re 1,” the filing said.
