The company also said that 3.25 crore warrants are still outstanding for conversion and warrant holders are entitled to get them converted within 18 months from the date of allotment.
Steel structure maker Salasar Techno Engineering has informed exchanges that the finance committee of the board of directors of the company has considered and approved the allotment of 2,11,80,000 fully paid-up equity shares with a face value of Re 1 each upon conversion of equivalent fully convertible warrants into equity shares at an issue price of Rs 14.40. The allotment of equity shares has been done under the promoter category on a preferential basis upon receiving the balance amount of Rs 22.87 crore at the rate of Rs 10.80 per warrant.ย
According to the information shared, the equity shares have been allotted to Shashank Agarwal and Shalabh Agarwal.ย
Meanwhile, the stock opened at Rs 8.57 on the BSE against the previous close of Rs 8.64. However, the stock gained to touch the high of Rs 8.78.ย
Paid-up capital of the company increases
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Consequent to today’s conversation of warrants/allotment of equity shares, the issued and paid-up capital of the company stands increased to Rs 174,79,50,290 consisting of 174,79,50,290 equity shares of Re 1 each.
The new equity shares so allotted, shall rank pari-passu with the existing equity shares of the Company.
The company also said that 3.25 crore warrants are still outstanding for conversion and warrant holders are entitled to get them converted within 18 months from the date of allotment.
Salasar Techno Engineering Q4 net profit
The company reported a 30 per cent growth in consolidated net profit to Rs 19.31 crore in the March 2025 quarter, driven by higher revenues.
The company posted a net profit of Rs 15.21 crore in the January-March period of the preceding fiscal, it said in an exchange filing on Friday.
During the fourth quarter, the company’s total income increased 32 per cent to Rs 472.68 crore from Rs 358.42 crore in Q4 FY24.
Salasar Techno Engineering is a steel structure manufacturer and engineering, procurement and construction infrastructure company, catering to telecom, energy and railways sectors.