Secondary Issues
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.
For FY25, Sterlite Technologies had reported about INR 2,215 Cr in Operating Income and about INR 127 Cr in Net Loss.
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