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Investor confidence soars in STL; raises INR 1000 Cr through QIP

Investor confidence soars in STL; raises INR 1000 Cr through QIP

Mumbai, India

STL [NSE: STLTECH], a leading optical and digital solutions company, today announced that it has raised INR 1000 Cr through a Qualified Institutional Placement (QIP) route. The entire process saw healthy participation by highly reputed global and Indian investors, which is a testament to their confidence in STL. 

Investor confidence around the fundamental need for optical fibre across the world, STL’s 30+ years of expertise, its solid customer credentials and its Glass to Gigabit capability have been some of the key factors behind the strong response to its QIP.

The Company approved the issue and allotment of 8.84 Cr Equity shares to qualified institutional investors, including HDFC Mutual Fund, Nippon Life India, Goldman Sachs and Bandhan Mutual Fund, aggregating to INR 1000 Cr. Post the allotment, the paid-up equity share capital of the company has increased to INR 97.5 Cr, comprising 48.75 Cr equity shares.

Ankit Agarwal, Managing Director, STL, said: “We are thankful to our investors for their continued support and for believing in the growth potential of STL. The money raised through QIP will be utilised towards strengthening our balance sheet so that we double down on our purpose of transforming billions of lives by connecting the world.”

About STL – Sterlite Technologies Ltd:

STL is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise and Data Centre networks. Read more, Contact us, stl.tech | Twitter | LinkedIn| YouTube

A leading optical and digital solutions company.

STL is a global leader in advanced connectivity solutions, providing end-to-end solutions for building AI-ready infrastructure, FTTx, Rural, Enterprise and Data Centre networks. With manufacturing facilities in North America, Europe and Asia, we deliver our solutions in more than 100 countries. Data Centre & Cloud companies, Telecom operators, Internet service providers and Large enterprises collaborate with STL to build their future-ready digital infrastructure. STL’s business goals are driven by customer-centricity, R&D and sustainability.
Contact us. stl.tech | Twitter | LinkedIn | YouTube
For more information, contact:
Media Relations Investor Relations
Shaily Rai Sinha Rahul Darak
Phone: +91 2230450450 Phone: +91 2230514000
stl.communications@stl.tech investor@stl.tech