Salasar Techno Engineering said on Wednesday its board had approved a proposal to raise around Rs 82 crore through a share issue to qualified institutional buyers.

Salasar Techno Engineering said in a statement that the proposal was approved at Tuesday’s meeting of the company’s board of directors Ways and Means Committee.

“The Ways and Means Committee has approved the offering, and three crore shares have been allotted to qualified institutional buyers at an issue price of Rs 27.30 per equity share (including a premium of Rs 26.30 per share) for a total price of Rs 81,90,00,000,” it said.

It said four foreign portfolio investors (FPIs) received shares in the offering.

The company said that of the three crore shares, Forbes EMF would get 45%, Nomura Singapore 42%, Maybank Securities PTE LTD 8%, and AG Dynamic Funds 5%. New Delhi-based Salasar Techno Engineering provides telecom operators with engineering, design, procurement, fabrication and electroplating services.