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Salasar Techno Engineering shares make stellar debut

LiveMint logoLiveMint 25-07-2017 PTI

New Delhi: Shares of infrastructure firm Salasar Techno Engineering made a stellar debut at the bourses on Tuesday with over twofold increase from its issue price of Rs108.

The stock listed at Rs259.15, a sharp gain of over twofold on BSE. At NSE, shares of the company opened at Rs 250.

The initial public offer of Salasar Techno Engineering was oversubscribed a staggering 272.93 times earlier this month.

The IPO was of 33.21 lakh equity shares at a price of Rs108 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.

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