Sterlite Technologies raises ₹1,000 crore via QIP; shares surge

Sterlite Technologies Ltd (STL) has raised ₹1000 crore through a qualified institutional placement (QIP).

According to the company’s stock exchange filing, it approved the issue and allotment of 8.84 crore equity shares to qualified institutional investors, including HDFC Mutual Fund, Nippon Life India, Goldman Sachs and Bandhan Mutual Fund, aggregating to ₹1,000 crore.

Post the allotment, the paid-up equity share capital of the company has increased to ₹97.5 crore, comprising 48.75 crore equity shares.

Ankit Agarwal, Managing Director, STL, said, “The money raised through QIP will be utilised towards strengthening our balance sheet so that we double down on our purpose of transforming billions of lives by connecting the world.”

Sterlite Technologies stock traded at ₹141.90, higher by 6.45 per cent on the NSE as of 10.51 am.

Crime Today News | Markets | Commodities | Forex | Stocks

Source | Powered by Yes Mom Hosting
Crime Today News Agency

Crime Today News

Welcome to Crime Today News, your trusted source for timely and unbiased news coverage. Since our inception in 2014, we have been dedicated to delivering the latest updates to our valued readers and viewers across Telangana.

Related Posts