After merger with Hill View Infrabuild, Salasar Techno to consider fundraising
On the rationale behind the merger, the proposed amalgamation will simplify and streamline the shareholding structure of the Salasar Techno Engineering, it said.
EPC company Salasar Techno Engineering Ltd (STEL) has informed exchanges that its board of directors will consider the proposal to raise funds to accelerate business growth and augment the financial resources of the company
"..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," the company said in an exchange filing.
Earlier on Saturday said its board has a proposal to merge Hill View Infrabuild Ltd with itself.
A decision in this regard was taken at a board meeting of the company on Thursday, STEL said in a statement.
On the rationale behind the merger, the proposed amalgamation will simplify and streamline the shareholding structure of the Salasar Techno Engineering, it said.
The proposed scheme of arrangement will also have beneficial impact on the financial books of the two entities, their shareholders, employees, and other stakeholders, as per the statement.
STEL is a steel structure manufacturer and EPC infrastructure company, providing services across telecom, energy, and railways.
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