Salasar Techno Engineering Limited — Others, 13-05-2025: Monitoring Agency Report

Salasar Techno Engineering Limited has announced CARE Ratings’ monitoring report on its preferential issue proceeds of Rs. 290.77 Cr (equity shares Rs. 166.67 Cr and convertible warrants Rs. 124.10 Cr). So far, Rs. 232.77 Cr has been deployed in line with revised plans including issue expenses, acquisitions, working capital, and capex. Some warrants may lapse as the share price remains below the exercise price, though promoters plan to exercise theirs. Additionally, a search was conducted by the Enforcement Directorate at key executives’ residences, marking a significant development for investors to watch.