Sterlite Technologies raises Rs 1,000 crore through QIP routeMoneycontrol • 9 days ago
Post the allotment, the paid-up equity share capital of Sterlite Technologies (STL) has increased to Rs 97.5 crore comprising 48.5 crore equity shares.
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HDFC Mutual Fund emerged as the largest investor in the share sale, followed by Nippon Life India AMC, Goldman Sachs, and Bandhan Mutual Fund.
The company's board approved the issuance of 8.84 crore equity shares for Rs 113.05 per share, representing a 5 percent discount to the floor price of Rs 119 per share.
Exide Industries and Indiabulls Real Estate touched a 52-week high.
Sources also told CNBC-TV18 that the equity dilution pursuant to the institutional share sale (QIP) is likely to be 22% of the overall outstanding equity of the company. Based on the December quarter shareholding pattern, promoter group entities held a 53.99%.