Fibre optics-focused Sterlite Technologies raises Rs.1500-Cr via QIP

Pune-headquartered Sterlite Technologies has raised INR 1,500 crore through a qualified institutional placement (QIP). The round saw participation from domestic and global investors, including Motilal Oswal, Nomura, HSBC, Bank of India, Oxbow, Think Investments, Bandhan, and Manulife.Sterlite provides broadband technology solutions. The company plans to use the proceeds from this fundraising to de-leverage its balance sheet and fund the next phase of its growth.Following the allotment of 2.57 crore equity shares to institutional buyers, the company's paid-up equity share capital has increased to INR 102.78 crore, representing 51.39 crore equity shares.