Sterlite Technologies Ltd (STL) has raised â¹1000 crore through a qualified institutional placement (QIP).
According to the companyâs 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 â¹1,000 crore.
Post the allotment, the paid-up equity share capital of the company has increased to â¹97.5 crore, comprising 48.75 crore equity shares.
Ankit Agarwal, Managing Director, STL, said, âThe 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.â
Sterlite Technologies stock traded at â¹141.90, higher by 6.45 per cent on the NSE as of 10.51 am.
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