QIP proceeds deployed; Rs 2.68 crore remains in escrow
STLTECH · price
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Sterlite Technologies raised Rs 1,500 crore through a June 2026 QIP. By September 30, it had used Rs 1,497.32 crore: Rs 1,103.77 crore to repay borrowings, Rs 371.43 crore for general corporate purposes and Rs 22.12 crore for issue expenses. Rs 2.68 crore remained in escrow. CARE Ratings found no deviation, but could not independently verify use of proceeds because funds were commingled.
Debt repayment is complete and the QIP is on track, but commingled funds mean investors must rely on company and accountant certificates.