Salasar Techno IPO to open on July 12

Infrastructure firm Salasar Techno Engineering today said its initial public offer (IPO) to raise Rs 35.86 crore will open on July 12 and close on July 17.
The public issue comprises 33.21 lakh equity shares of face value of Rs 10 each fully paid for cash at a price of Rs 108 per equity share aggregating Rs 35.86 crore, according to the draft papers.
The issue opens onJuly 12, 2017 and closes on July 17, 2017, Salasar Techno Chairman and MD Alok Kumar said in a press conference here today.
Kumar said the company has posted excellent financial results with revenues increasing from Rs 310 crore in FY 2016 to 384.29 crore for FY 2017 and net profits going up from Rs 11.04 crore to Rs 20.74 crore in the same period on consolidated basis.

SalasarTechno provides customised steel fabrication solutions in the domestic market.