Today, Salasar Techno Engineering Ltd has raised Rs 81.9 crore fund through Qualified Institutions Placement (QIP) of three crore equity shares. Salasar Techno Engineering Ltd includes Forbes EMF and Nomura Singapore, allotted shares by foreign institutional investors (FII). Forbes EMF and Nomura Singapore have bought 1.26 crore and 1.35 crore Salasar Techno shares, respectively. The foreign Institutional Investors (FII) who have been allotted shares by raising funds in the company to drive are Maybank Securities and AG Dynamics Fund. Equity shares of the company have been allotted at an issue price of Rs 27.30 per share.

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On the Bombay Stock Exchange (BSE) website, Nomura Singapore bought 1.26 crore Salasar shares, AG Dynamics Fund bought 15 lakh shares, and Forbes EMF bought 1.35 crore company shares. In contrast, Maybank Securities bought 24 lakh shares of the engineering company. Forbes EMF has bought 45 per cent of the QIP tranche, whereas Nomura Singapore has 42 per cent, AG Dynamics has 5 per cent, and Maybank Securities has bought 8 per cent. 

Salasar Techno Engineering informed stock market exchanges about the share allotment to FIIs, citing, “In furtherance to our earlier intimations dated August 17, 2022, and September 06, 2022, concerning the aforesaid issue, which was opened on August 17, 2022, and closed on September 06, 2022, we are pleased to inform you that the Fund Raising Committee of the Board of Directors of the Company (the Committee), at its meeting held today, i.e. September 06, 2022 (which commenced at 03:30 P.M. and concluded at 04:30 P.M.), has among other things approved the issuance and allotment of 3,00,00,000 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 81,90,00,000 (Rupees Eighty-One Crore Ninety Lakh).”