Announced Wed, 1 Jul · 11:30 IST
Sterlite Tech allots 2.57 cr shares via QIP at 5 percent discount, raises 1500 cr
STLTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-7.7%1-day move
₹607.95
prior close
₹597.00
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.5+0.1+0.5-7.7-4.9-3.6-8.6-13.1-11.0-10.5———
Up moveDown movePending
AI summary
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.
Likely market impact
About 5.3 percent equity dilution for existing holders. Strong marquee institutional participation signals confidence; capital likely to fund growth or cut debt.