Salasar Techno Engineering surges on emerging as highest bidder for acquisition of M/s EMC
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Salasar Techno Engineering is currently trading at Rs. 21.62, up by 0.11 points or 0.51% from its previous closing of Rs. 21.51 on the BSE.
The scrip opened at Rs. 22.28 and has touched a high and low of Rs. 22.54 and Rs. 21.30 respectively. So far 1298604 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 34.08 on 07-Feb-2024 and a 52 week low of Rs. 7.20 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 22.54 and Rs. 18.69 respectively. The current market cap of the company is Rs. 3423.82 crore.
The promoters holding in the company stood at 63.07%, while Institutions and Non-Institutions held 8.85% and 28.08% respectively.
Salasar Techno Engineering has emerged as the highest bidder in the acquisition of M/s EMC (under Liquidation) through an EAuction facilitated by the Liquidator, as appointed by the Hon’ble National Company Law Tribunal (NCLT), Kolkata Bench. The auction took place on March 14, 2024, with the highest bid amounting to Rs 178 crore.
The target company operates within the same industry as Salasar Techno Engineering, promising an expansion of the company's operations and the potential for synergistic benefits. The Salasar Techno Engineering will get the 100% ownership and control over the Target Company including the entire available assets and properties of the Company.
Salasar Techno Engineering is leading provider of customized steel fabrication and infrastructure solution in India.
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