Salasar Techno Engineering Ltd. (STEL) (BSE: 540642, NSE: SALASAR) engaged in manufacturing of large
& heavy steel structures, and providing customized steel structures and EPC solutions to diverse range
of industries including telecom, power, railways and others has announced that its board will meet on
Thursday, 25 January 2024 to consider the 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 Placements, Rights Issue or any other methods or
combination thereof as may be permitted under applicable laws and subject to all necessary
approvals.
Earlier, the board fixed February 01, 2024 as record date for the purpose of ascertaining the eligibility
of shareholders for entitlement of bonus shares in the proportion of 4:1 i.e. 4 new fully paid-up bonus
equity share of Rs.1 each for every 1 existing fully paid-up equity share of Rs. 1 each held by the
Members of the Company, subject to the approval of shareholders being obtained through the postal
ballot notice.
Earlier, the company was awarded a contract, valued at Rs. 3,640 Million. The contract focuses on
execution of Loss Reduction work in Turnkey Mode. The contract signals a significant milestone for The
Company, involving a comprehensive scope of work aimed at enhancing the power infrastructure in
Erode district of Tamil Nadu. Under the contract, STEL is entrusted with the Supply, Erection, and
Installation of Feder Segregation, High Voltage Distribution System, Separation of Double Distribution
Transformer, and Augmentation of 33KV Lines. The above contract further strengthens the order book
and is expected to get completed within 36 months, yielding heathy EBITDA margins.
Commenting on the order win, the management team of STEL said: “We are delighted to announce a
significant achievement that underscores our commitment to excellence and our capabilities in
delivering cutting-edge infrastructure solutions. STEL has secured a monumental EPC contract valued at
Rs. 3,640 million from the Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO).
The contract focuses on executing loss reduction work in the Turnkey Mode. We will handle every
aspect of the project, from design and engineering to manufacturing, testing, supply, erection, and
installation of Feder Segregation, High Voltage Distribution System, Separation of Double Distribution
Transformer, and Augmentation of 33KV Lines. The project will be executed in successive phases.”
Incorporated in 2006, Salasar Techno Engineering Limited is a provider of customized steel fabrication &
infrastructure solutions in India. It provides 360-degree solutions by carrying out engineering, designing,
fabrication, galvanization and deployment. STEL’s product portfolio includes telecommunication towers,
power transmission line towers, smart lighting poles, utility poles, high mast poles, stadium lighting
poles, monopoles, substation structures, solar module mounting structures, railway electrification
(OHE), Road & Railway Over-Bridges (ROB) and customised galvanized & non-galvanized steel structures.
STEL’s services include providing complete Engineering, Procurement & Control (EPC) for projects such
as rural electrification, power transmission lines and solar power plants. STEL is among the leading
manufacturers with the current installed capacity of 2,11,000 MTPA having supplied, 50,000+ Telecom
Towers, ~746 km of Power Transmission Lines, ~629 km Railway Track, to 600+ clients in 25+ Countries.