This Company's Stock Split Ex-Date Turning Next Week, Set For Rs. 200 Cr. Fundraising

Salasar Techno has announced a stock split, and the split date has been fixed for June 27, 2022. Now, Salasar Techno's face value (FV) is 10, which will be 2, after the stock split.

Salasar Techno's current market price closed at Rs. 245 surging by 2.90% on June 23. The 52-week high level of this stock is Rs. 372.00, and the 52-week low level of this stock is Rs. 207.05. In the past 1 year, its stock price has fallen by around 24.89%, and in the past 6 months, its share price has surged by 5.72%. However, in the long run, the stocks of Salasar Techno have been quite profitable for investors. In the past 5 years, its share price has surged by 96.95%.

It is a smallcap company with a market capitalization of Rs. 207.05 crore. After the stock split in the next week, the company's share price will be more affordable for investors. The stock is offering a dividend yield of 0.41% at present.

Company news

According to an available report, the Board of the company, on June 22, has considered and approved fundraising by issuance and allotment of equity shares. The aggregate amount can be up to Rs. 200 crore by way of a preferential allotment and/or through QIP, FCCB, ADRs, - IIFL Securities informed in a recent report. The company will also develop its borrowing limits to Rs. 700 crore.

Stock split

A stock split happens means a listed company decides to increase its number of outstanding shares. So, the share price will go down, making it more affordable for new investors. A company can take this decision to attract new investors. However, through this, the existing investors will get more benefits from dividend and bonus stocks if the company announces any further. Through a stock split, the market capitalization of a company will remain the same, only the number of shares will gain.