Home / Markets / Stock Markets /  Nomura, other FIIs buy stake worth 82 cr in this multibagger small-cap stock

Multibagger stock: Salasar Techno Engineering Ltd has raised 81.9 crore fund through Qualified Institutions Placement of 3 crore equity shares. The foreign institutional investors (FII) who have been allotted shares by the share allotment committee of Salasar Techno Engineering Ltd includes Nomura Singapore and Forbes EMF. Forbes EMF has bought 1.35 crore Salasar Techno shares whereas Nomura Singapore has bought 1.26 crore Salasar Techno shares. Other two FIIs who have been allotted shares in company's fund raise drive are AG Dynamics Fund and Maybank Securities. Shares have been allotted at an issue price of 27.30 per equity shares.

Details of FII investment

As per the details available on the BSE website, Forbes EMF bought 1.35 crore company shares, Nomura Singapore bought 1.26 crore Salasar shares, AG Dynamics Fund bought 15 lakh shares whereas Maybank Securities bought 24 lakh shares of the engineering company. In percentage terms, Forbes EMF has bought 45 per cent of the QIP tranche whereas Nomura Singapore, AG Dynamics and Maybank Securities bought 42 per cent, 5 per cent and 8 per cent respectively. They bought these shares paying 27.30 apiece that means Forbes EMF, Nomura Singapore, AG Dynamics and Maybank Securities have invested 45 crore, 42 crore, 5 crore and 8 crore respectively in Salasar Techno Engineering Ltd.

Salasar Techno Engineering informed stock market exchanges about the share allotment to FIIs citing, "In furtherance to our earlier intimations dated August 17, 2022 and September 06, 2022, with respect to the aforesaid issue, which was opened on August 17, 2022 and closed on September 06, 2022, we are pleased to inform you that the Fund Raising Committee of the Board of Directors of the Company (the “Committee"), at its meeting held today i.e. September 06, 2022 (which commenced at 03:30 P.M. and concluded at 04:30 P.M.), has inter alia approved the issuance and allotment of 3,00,00,000 Equity Shares to qualified institutional buyers in present tranche at the issue price of 27.30 per Equity Share (including a premium of 26.30 per Equity Share), aggregating to 81,90,00,000 (Rupees Eighty One Crore Ninety Lakh)."

Photo: Courtesy Salasar Techno Engineering exchange filing
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Photo: Courtesy Salasar Techno Engineering exchange filing

Salasar Techno Engineering share price history

Salasar Techno Engineering shares are one of the multibagger stocks that Indian stock market has produces in post-Covid rally in last two years. This stock has surged from 4 (April 2020) to 33 apiece levels, logging around 725 per cent rise in this near two years. The stock is available for trade on both NSE and BSE. Its current market cap is around 950 crore and it ended with a trade volume of near 19.88 lakh on NSE on Tuesday. Its 52-week high on NSE is 35.35 whereas its 52-week low on NSE is 20.71 apiece.


Asit Manohar

Chief Content Producer at Live Mint Digital Team
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