The board also approved the proposal to increase the borrowing limit from Rs 500 crore to Rs 700 crore.
Salasar Techno Engineering on Wednesday said its board has approved raising up to Rs 200 crore through various channels including Qualified Institutional Placement (QIP).
A regulatory filing said the fund would be raised in one or more tranches.
“The Board … has approved the raising of funds through preferential allotment and/or through QIP, FCCB, ADR, GDR issues, or through issuance and allotment of equity shares up to an aggregate amount of Rs 200 crore to existing shareholders. on correct grounds, or in any combination thereof,” it said.
In this regard, the board also approved the proposal for constitution of a fundraising committee, it said.
In addition, the board decided to appoint various intermediaries, merchant bankers, consultants, legal advisors, etc.
It said that the board also approved the proposal to increase the borrowing limit from Rs 500 crore to Rs 700 crore.
Salasar Techno Engineering based in New Delhi is engaged in engineering, designing, procurement, fabrication and galvanization for telecom companies.