AI assistant
Sterlite Technologies Limited. — Capital/Financing Update 2024
Apr 16, 2024
59411_rns_2024-04-16_7cba0918-dfa9-4323-a789-cbcf03f9c0ea.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [79 x 31] intentionally omitted <==
April 16, 2024
National Stock Exchange of India Limited Exchange Plaza, 5[th] Floor, Plot No. C-1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai - 400 051.
BSE Limited Phirozee Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001.
Sub: - Press Release – Investor confidence soars in STL; raises INR 1000 Cr through QIP
Ref: - Scrip ID - STLTECH/ Scrip Code – 532374
Dear Sir/Madam,
The Company is pleased to announce that it has raised INR 1000 Cr through a Qualified Institutional Placement (QIP) route. The entire process saw healthy participation by highly reputed global and Indian investors, which is a testament to their confidence in STL. A copy of the Company’s Press Release in this behalf, is enclosed herewith.
Kindly take the above on record.
Thanking you.
Yours faithfully,
For Sterlite Technologies Limited
AMIT VILAS Digitally signed by AMIT VILAS DESHPAN DESHPANDE Date: 2024.04.16 DE 09:59:18 +05'30'
Amit Deshpande
General Counsel & Company Secretary (ACS 17551)
Enclosure: As above
Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408
==> picture [79 x 31] intentionally omitted <==
PRESS RELEASE
Investor confidence soars in STL; raises INR 1000 Cr through QIP
Mumbai, 16/April/2024: STL [NSE: STLTECH], a leading optical and digital solutions company, today announced that it has raised INR 1000 Cr through a Qualified Institutional Placement (QIP) route. The entire process saw healthy participation by highly reputed global and Indian investors, which is a testament to their confidence in STL.
Investor confidence around the fundamental need for optical fibre across the world, STL’s 30+ years of expertise, its solid customer credentials and its Glass to Gigabit capability have been some of the key factors behind the strong response to its QIP.
The Company approved the issue and allotment of 8.84 Cr Equity shares to qualified institutional investors, including HDFC Mutual Fund, Nippon Life India, Goldman Sachs and Bandhan Mutual Fund, aggregating to INR 1000 Cr. Post the allotment, the paid-up equity share capital of the company has increased to INR 97.5 Cr, comprising 48.75 Cr equity shares.
Ankit Agarwal, Managing Director, STL, said: “We are thankful to our investors for their continued support and for believing in the growth potential of STL. The 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.”
About STL - Sterlite Technologies Ltd:
STL is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise and Data Centre networks. Read more, Contact us, stl.tech | Twitter | LinkedIn| YouTube
For more information, contact:
| Media Relations | Investor Relations |
|---|---|
| Soumi Das | Chetan Wani |
| Phone: +91 7028466673 | Phone: +91 9712975633 |
| [email protected] | [email protected] |
One of the six players in the world (ex-China), to make glass preforms
Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408