Salasar Techno Engineering Ltd. Reports Deviation in Preferential Issue Fund Utilization

Salasar Techno Engineering Ltd. has reported a deviation in the use of proceeds for the preferential issue of equity shares and fully convertible warrants for the quarter ended 31.12.2025. The company initially obtained shareholders’ approval for a preferential issue of Rs. 806.04 Crore, but later made a preferential issue of Rs. 290.77 crores only. The deviation is due to the revision of the objects of the issue through a board resolution dated April 30, 2024. The company has utilized Rs. 179.27 Crores under the object 'Financing of Acquisition', which includes an EMD of Rs. 10 crores and interest amounting to Rs. 1.27 crore. The Issue Period, which spanned 18 months from the date of allotment, concluded on October 29, 2025. The company has received Rs. 255.67 Crore, which has been unutilized fully for the objects of the Issue.