STL raises INR 1,500 crore through QIP, allots 2.57 crore equity shares

STL raised INR 1,500 crore by allotting 2.57 crore equity shares to qualified institutional buyers through a Qualified Institutions Placement. Investors included Motilal Oswal, Nomura, HSBC, Bank of India, Oxbow, Think Investments, Bandhan and Manulife. After allotment, paid-up equity share capital rose to INR 102.78 crore, comprising 51.39 crore equity shares. Proceeds will mainly be used to reduce debt and strengthen the balance sheet, while funding the next growth phase focused on optical connectivity for AI data centers and telecom networks.