The initial public offer of infrastructure firm Salasar Techno Engineering was oversubscribed a staggering 272.93 times on the last day of bidding today.
At the close of Friday's bidding, the IPO of Salasar Techno was oversubscribed 11 times. It had opened for bidding on July 12.
The issue comprises 33.21 lakh equity shares at a price of Rs 108 per equity share aggregating to Rs 35.86 crore.
Proceeds from the issue will be utilised for meeting working capital requirements and general corporate purposes.
Rajasthan-based Salasar Techno provides customised steel fabrication solutions in the domestic market.
Sarthi Capital Advisors Pvt Ltd is the book running lead manager to the offer.
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