 "Salzer Electronics zooms over 30% in two days after closure of QIP issue")
Shares of Salzer Electronics has rallied 17% to Rs 364, extending its previous day’s nearly 15% surge on the BSE, after the company announced the closure of qualified institutional placement (QIP) on July 21, 2015.
The company had raised Rs 62 crore by issuing Rs 2.6 million shares at Rs 235 per share to qualified institutional buyers (QIB).
As of June 30, 2015, Larsen & Toubro held 25.51% stake in Salzer Electronics, which operates in four segments – switchgear, building segment, wires & cables and energy management.
The company had raised Rs 62 crore by issuing Rs 2.6 million shares at Rs 235 per share to qualified institutional buyers (QIB).
As of June 30, 2015, Larsen & Toubro held 25.51% stake in Salzer Electronics, which operates in four segments – switchgear, building segment, wires & cables and energy management.
At 12:47 PM, the stock was up 12% at Rs 350 and has seen nearly two-fold jump in trading volumes. Around 5.7 million shares already changed hands on the counter against an average sub 3.5 million shares that were traded daily in past two weeks on the BSE.
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