The initial public offer (IPO) of infrastructure firm Salasar Techno Engineering was oversubscribed 1.55 times on the first day of bidding today.
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 SalasarTechno provides customised steel fabrication solutions in the domestic market.
Sarthi Capital Advisors Private Limited is the book running lead manager to the offer.