Sterlite Tech allots 2.57 cr shares via QIP at 5 percent discount, raises 1500 cr
STLTECH · price
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On the reaction day the stock moved 3.1 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Sterlite Technologies allotted 2,57,28,500 equity shares under a QIP at Rs 583.01 each, aggregating Rs 1,500 crores. The price carries a 5 percent discount to the floor price of Rs 613.69. Major allottees include Motilal Oswal funds at 18.33 percent, Oxbow Master Fund at 16.16 percent, HSBC Mutual Fund at 14 percent, Nomura India Investment Fund at 14 percent, and TIMF Holdings at 14 percent. Paid-up equity capital rose from Rs 97.6 cr to Rs 102.8 cr.
About 5.3 percent equity dilution for existing holders. Strong marquee institutional participation signals confidence; capital likely to fund growth or cut debt.