Sterlite Technologies, a broadband technology company, has successfully raised Rs 1,000 crore through a Qualified Institutional Placement (QIP) route. The equity was issued to Qualified Institutional Investors, including HDFC Mutual Fund, Nippon Life India, Goldman Sachs, and Bandhan Mutual Fund. Following the allotment, Sterlite Technologies’ paid-up equity share capital has increased to Rs 97.5 crore. The funds raised will be utilized to bolster the company’s balance sheet and support its mission of connecting the world. Managing Director Ankit Agarwal expressed gratitude to investors for their continued support.
Sterlite Technologies Raises Rs 1,000 Crore via QIP Route
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