Small Cap Stock To Consider Fundraising Via NCDs After 4:1 Bonus Shares

As of Saturday's closing session, Salasar Techno Engineering Ltd., a small-cap company in the capital goods category, has a market valuation of Rs 2,995.41 Cr. Salasar Techno Engineering is one of Dalal Street's multibagger stocks since it has gained 29.72% in the previous five trading sessions in addition to yielding a 92.42% return in a year. This week, Salasar Techno Engineering will be the centre of attention following the announcement of bonus shares and fundraising plans via NCDs.

"In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Thursday, January 25, 2024 at 11:30 A.M. at the Company's Unit-1 office situated at Khasra No. 265, 281-288, Parsaun-Dasna, Jindal Nagar, Distt. Hapur 201015, inter-alia, to transact the following businesses: 1. proposal to raise funds, to accelerate business growth and to augment the financial resources of the Company, by way of issue of one or more instruments including Equity Shares, Convertible or Non-Convertible Securities of any description or Warrants or Debt Securities, through Preferential Issue, Private Placefuents, Rights Issue or any other methods or combination thereof as may be permitted under applicableJaws and subject to all necessary approvals, and to appoint requisite intermediaries required for this purpose; 2. to increase the Authorized Share Capital of the Company and consequent amendments in Memorandum and Articles of Association of the Company, if any; 3. to seek members' approval wherever applicable by means of passing the requisite resolution(s) for the above-said board decisions and other matters connected therewith and/or incidental thereto; and In addition to the items listed herein above, the Board may consider any other matter with the permission of the Chair," said Salasar Techno Engineering in a stock exchange filing.

According to Salasar Techno Engineering Ltd., existing shareholders will get an additional four shares for each share they possess on or before the record date, in the form of bonus shares in a 4:1 ratio. According to a regulatory filing from the firm, the Board of Directors decided to nominate Thursday, February 1, 2024, as the record date in their meeting held on January 18, 2024, to determine the eligibility of the shareholders for the purpose of bonus shares. The total number of securities that are planned to be issued, or the complete amount that will be paid for the securities: 126,28,21,120 equity shares that are fully paid up at a rate of one rupee apiece.

Salasar Techno Engineering was founded in 2006 and specialises in producing large, heavy steel structures. It also offers customised steel structures and complete engineering, procurement, and construction (EPC) solutions to a wide range of sectors, such as railways, telecom, and power.