Announced Wed, 1 Jul · 11:45 IST
STL raises Rs 1,500 Cr via QIP at 5% discount to floor price
STLTECH · price
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Price reaction · full curve 14 horizons · vs prior close
-7.7%1-day move
₹607.95
prior close
₹597.45
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.4+0.4+0.4+0.6-7.7-4.9-3.6-8.6-13.1-11.0-10.5———
Up moveDown movePending
AI summary
Sterlite Technologies allotted 2.57 crore equity shares via QIP at Rs 583.01 per share, raising Rs 1,500 Crores. The issue price carries a 5% discount (Rs 30.68) to the floor price of Rs 613.69. Paid-up capital rose from Rs 97.6 Cr to Rs 102.8 Cr. Notable allottees include Motilal Oswal funds (18.33%), Oxbow Master Fund (16.16%), HSBC MF (14%), Nomura (14%), and TIMF Holdings (14%).
Likely market impact
Equity dilution of about 5%; capital raised for growth. QIP priced at discount to floor may pressure stock short-term.