This multibagger small-cap stock with outstanding returns saw QIP investment of Rs 82 crore; do you own it?

Forbes EMF, one of the allottees, received 1.35 crore equity shares or 45 per cent of the offer while Nomura Singapore received 1.25 crore equity shares or 42 per cent of the issue.

Salasar Techno Engineering allotted shares via the qualified institutional placement (QIP) route to select foreign portfolio investors (FPI). The construction & engineering company has issued and allotted 3,00,00,000 equity shares with a face value of Re 1 each for Rs 27.30 each. Through the QIP, the company has raised Rs 81.90 crore.  

Forbes EMF, one of the allottees, received 1.35 crore equity shares or 45 per cent of the offer while Nomura Singapore received 1.25 crore equity shares or 42 per cent of the issue. AG Dynamics Fund bought 15 lakh shares i.e., 5 per cent while Maybank Securities bought 24 lakh shares i.e., 8 per cent of the engineering company.   

Salasar Techno Engineering shares are one of the multibagger stocks that the Indian stock market has produced in an exceptional post-COVID rally in the last two years. This stock has surged from Rs 3.88 (March 27, 2020) to Rs 33.45 apiece levels, logging around a 760 per cent rise in these two and a half years. The shares of Salasar Techno Engineering soared nearly 45 per cent in the past six months. The company delivered strong growth of more than 18 per cent in the last month.   

The stock is tradable on both NSE as well as BSE. Its current market cap is around Rs 955 crore and it ended with a trade volume of nearly 19.88 lakh on NSE on September 8. Its 52-week high on NSE is Rs 35.35 whereas its 52-week low is Rs 20.71 apiece.  

Established in 2006 as a tower manufacturer, Salasar Techno Engineering Ltd has emerged as a fast-growing steel structure manufacturer & EPC infrastructure company, providing services across telecom, energy, and railways sectors.