Salasar Techno Engineering Ltd

Salasar Techno Engineering Ltd. is a provider of customized steel fabrication and infrastructure solutions in India. It provides 360degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment. Its products include telecommunication towers, power transmission line towers, smart lighting poles, monopoles, guard rails, substation structures, solar module mounting structures and customized galvanized nongalvanized steel structures. Its services include providing complete engineering, procurement and control for projects such as Rural Electrification, Power Transmission Lines, and Solar Power Plants.It is among the leading manufacturers of Telecom Tower in India with more than 25,000 towers since inception. The Company has three state of the art manufacturing facility located in Hapur, Uttar Pradesh.Salasar Techno Engineering Ltd was incorporated as Salasar Petrochemicals Private Limited on October 24, 2001 in Jaipur, Rajasthan. Thereafter Company was taken over by its promoters in March, 2005. Further the name of the Company changed from Salasar Petrochemicals Private Limited to Salasar Techno Engineering Private Limited on June 13, 2006. During the financial year ended 31 March 2007, the company started manufacturing/fabrication activities at Unit 1 at Village Parsaun, Dasna,P.O. Jindal Nagr, Distt Hapur245304, Uttar Pradesh. During the financial year ended 31 March 2008, the company set up second unit situated at Khasra no. 11841185, village Khera, Pikhuwa, Ghaziabad245304, Uttar Pradesh, India.During the financial year ended 31 March 2010, the company initiated expansion of Unit II by acquiring land building situated at Khasra No. 1183, village Khera, Pikhuwa, Ghaziabad245304, Uttar Pradesh, India. During the financial year ended 31 March 2011, Salasar Stainless Limited was incorporated as a wholly owned subsidiary of the company. During the financial year ended 31 March 2012, the companys turnover crossed Rs 100 crore.During the financial year ended 31 March 2014, the companys wholly owned subsidiary Salasar Stainless Limited acquired Ganges Concast Industries Limited. During the year under review, the company acquired land situated at Khasra no. Khasra No. 265, 281282, Village Parsaun, Dasna, P.O. Jindal Nagr, Distt Hapur245304, Uttar Pradesh to consolidate with unit I. During the financial year ended 31 March 2014, the companys turnover crossed Rs 200 crore.The company was converted into public limited company and the name of the company was changed to Salasar Techno Engineering Limited on August 16, 2016. During the financial year ended 31 March 2017, Ganges Concast Industries Limited was amalgamated with the company. During the year ended review, a galvanizing plant was set up at its whollyowned subsidiary company Salasar Stainless Limited for further expansion in capacity. During the financial year ended 31 March 2017, the companys turnover crossed Rs 400 crore. During the year under review, the company entered into a joint venture in the form of Association of Person (AOP) with M/s Sikka Engineering Limited, namely Sikka Salasar JV. During the year financial year ended 31 March 2018, the company purchased land for expansion of business. During the year under review, the company received approval for technical qualification from Power Grid Corporation for supply of towers/tower parts for transmission lines for Unit 1.The company raised Rs 35.86 crore through a fixed priced initial public offer (IPO) in July 2017. The IPO was open for subscription during the period from 12 to 17 July 2017. The stock debuted at Rs 259.15 on BSE on 25 July 2017, a premium of 139.95% compared to the IPO price of Rs 108 per share.The Board of Directors of Salasar Techno Engineering Ltd. at its meeting held on 15 February 2018 approved a scheme of merger and arrangement between the company and Salasar Stainless Limited, a wholly owned subsidiary of the company primarily engaged in the manufacturing of stainless steel pipes and tubes and other related activities. On 23 April 2018, Salasar Techno Engineering Ltd. announced that it has received an order worth Rs 35 crore for supply of 300 telecom towers to Reliance JIO. The company has also received export order of 100 telecom towers worth Rs 14 crore from Nepal.