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Salasar Techno Engineering IPO oversubscribed 1.55 times

Press Trust of India  |  New Delhi 

The initial public offer (IPO) of infrastructure firm Salasar Techno Engineering was oversubscribed 1.55 times on the first day of bidding today.

The IPO, which would close on July 17, received bids for 51,47,250 against the total issue size of 33,21,000 shares, data available with the at the end of the day showed.

The issue comprises 33.21 lakh equity 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.

The equity are proposed to be listed on the and

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 12 2017. 20:48 IST