Sterlite Technologies Limited has received board and shareholder approval for a Qualified Institutions Placement (QIP) of equity shares. The company announced the opening of the Issue on June 24, 2026, with a floor price of ₹613.69 per share. This placement aims to raise capital through eligible institutional buyers, with the final issue price to be determined in consultation with the book running lead managers. The trading window for designated persons remains closed.
Sterlite Technologies Approves Qualified Institutions Placement
Sterlite Technologies Limited has made significant progress in its capital-raising efforts, announcing the approval of a Qualified Institutions Placement (QIP) of equity shares. This strategic move was greenlit by the company’s board of directors on April 29, 2026, and subsequently ratified by shareholders through a postal ballot on June 16, 2026. The Authorization and Allotment Committee of the Board met on June 24, 2026, to finalize key aspects of the Issue.
Key Decisions and Floor Price
The Committee’s meeting on June 24, 2026, authorized the opening of the Issue on the same day. It also approved the preliminary placement document and the application form for eligible qualified institutional buyers. A critical decision was the approval of the floor price for the Issue, set at ₹613.69 per Equity Share. This floor price was determined using the pricing formula prescribed under the SEBI ICDR Regulations.
Relevant Date and Discount Possibility
The ‘relevant date’ for the purpose of the Issue has been fixed as June 24, 2026, aligning with the date the Committee decided to open the Issue. In accordance with Regulation 176(1) of the SEBI ICDR Regulations and shareholder approval, the Company may offer a discount of up to 5% on the calculated Floor Price. The final Issue price will be determined in consultation with the appointed book running lead managers (BRLMs).
Public Filing and Trading Window
The preliminary placement document dated June 24, 2026, is being filed with both the BSE Limited and the National Stock Exchange of India Limited. It will also be made available on the company’s website, www.stl.tech. The Committee meeting commenced at 10:30 p.m. and concluded at 11:45 p.m.. In adherence to the Company’s ‘Code of Conduct to Regulate Monitor and Report Trading by Insiders,’ the trading window for ‘Designated Persons’ has been closed since May 14, 2026, and will remain so for 48 hours after the determination of the issue price.
Source: BSE
