Salzer Electronics successfully raises Rs 62.06 Crore through QIP

Salzer Electronics Limited has successfully closed a Qualified Institutions Placement to raise Rs 62.06 Crore. The company will issue 26.41 lakhs equity shares at Rs. 235 per share.

The overall allocation to institutional investors is approximately 55% from FII and rest 45% from domestic mutual funds, ensuring a well diversified representation and demand.

Emkay Global Securities Private Limited was the Book Running Lead Manager to the QIP issue. The legal advisors to the transaction were Crawford Bayley.

Shares of SALZER ELECTRONICS LTD. was last trading in BSE at Rs.342.8 as compared to the previous close of Rs. 312.2. The total number of shares traded during the day was 767457 in over 11836 trades.

The stock hit an intraday high of Rs. 364 and intraday low of 312.4. The net turnover during the day was Rs. 264043656.

Source : Equity Bulls

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