Sterlite Tech raises Rs1,000 cr via QIP
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New Delhi: Broadband technology company Sterlite Technologies has raised Rs 1,000 crore by issuing equity to Qualified Institutional Investors (QIP) including HDFC Mutual Fund, Nippon Life India, Goldman Sachs, and Bandhan Mutual Fund, the company said on Tuesday.
Post the allotment, the paid-up equity share capital of Sterlite Technologies (STL) has increased to Rs 97.5 crore comprising 48.5 crore equity shares. “STL has raised INR 1,000 crore through a Qualified Institutional Placement (QIP) route,” the company said in a regulatory filing. The company 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 Rs 1,000 crore.
