The NSE Nifty went up by 57.35 points to 22,662.20. Amid this, the shares of Salasar Techno Engineering Limited, with a market cap of Rs 3200 crore, were down by 1.21 per cent and were trading at the level of Rs 20.35.
Equity benchmark indices rebounded in early trade on Thursday amid optimistic investors’ sentiment boosted by a record-high GST collections in April and foreign fund inflows. The 30-share BSE Sensex climbed 204.88 points to 74,687.66 in early trade. The NSE Nifty went up by 57.35 points to 22,662.20. Amid this, the shares of Salasar Techno Engineering Limited, with a market cap of Rs 3200 crore, were down by 1.21 per cent and were trading at the level of Rs 20.35.
Meanwhile, Salasar Techno Engineering has informed the stock market that its Board of Directors met on Tuesday, April 30, in which the decision to allot convertible warrants and equity shares to promoters and non-promoters on a preferential basis has been approved. Salasar Techno Engineering has decided to allot 11.5743 crore equity shares to non-promoter public category group investors.
With this, the fully paid-up capital of the company has increased by Rs 169.42 crore. Salasar Techno Engineering has decided to issue Rs 8.6818 crore fully convertible warrants to promoter and non-promoter public category investors. Salasar Techno Engineering is issuing these convertible warrants by taking 25 per cent of the amount.
“Allotment of 8,61,80,000 fully Convertible Warrants (‘Warrants’), carrying a right exercisableby the Warrant holder to subscribe to one Equity Share having face value of Re 1/- per Warrant, to persons belonging to “Promoter” and “Non-Promoter, Public Category” asdetailed in Annexure-II, at an issue price determined in accordance with provisions of Chapter V of SEBI ICDR Regulations, after receipt of stipulated amount i.e. 25% of the IssuePrice as subscription amount in accordance with provisions of Chapter V of SEBI ICDR Regulations,” the company said in an exchange filing.
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