April 9, 2024
admin
(20 second reading) Sterlite Technologies intends to raise around Rs 1,000 crore through the QIP at a floor price of Rs 119 per share which is a 6 percent discount to Monday’s close of Rs 127.10 per share.
The equity dilution pursuant to the institutional share sale (QIP) is likely to be 22 percent of the overall outstanding equity of the company, the report added. Based on the December-quarter shareholding pattern, promoter group entities held a 53.99 percent stake.
Motilal Oswal and Nuvama are the book running lead managers for the QIP.
Sterlite Technologies recently announced receiving orders of Rs 900 crore for fiberisation projects from private telecom companies in FY 2024
