Sterlite Technologies Launches Qualified Institutional Placement with Equity Shares Priced at ₹613.69 per Share
Sterlite Technologies Limited has initiated the offering of equity shares through a qualified institutional placement (QIP). The company finalized the floor price and details of the Issue following approvals from its Board and shareholders.The Authorized and Allotment Committee, during its meeting on June 24, 2026, approved the commencement of the Issue. This move comes after the Company's board of directors approved the matter in a meeting held on April 29, 2026, and following a special resolution passed by shareholders via postal ballot on June 16, 2026.
The preliminary placement document dated June 24, 2026, is now available to eligible qualified institutional buyers. The Issue carries a determined floor price of ₹ 613.69 per Equity Share.
Key Details of the Placement
Details regarding the offering include:| Detail | Information |
|---|---|
| Issue Type | Qualified Institutional Placement (QIP) |
| Floor Price | ₹ 613.69 per Equity Share |
| Maximum Discount | Not more than 5% on the Floor Price |
| Placement Opening Date | June 24, 2026 |
The Company confirmed that the pricing formula for the Issue was determined based on the regulatory requirements and relevant date, which is fixed as June 24, 2026.
Pricing Mechanism and Market Regulation
The final issue price will be decided by Sterlite Technologies in consultation with the book running lead managers (BRLMs) appointed for the placement. The Company has also authorized an offer of a discount not exceeding 5% on the calculated Floor Price.Additionally, the company confirmed that, as per its Code of Conduct to Regulate, Monitor and Report Trading by Insiders, the trading window for dealing in the securities of the Company had been closed from May 14, 2026, until 48 hours after the determination of the issue price for all Designated Persons.
STLTECH Stock Price Movement
Shares of Sterlite Technologies Limited slipped by 3.68% on Wednesday, settling at ₹584.15 after shedding ₹22.35 from previous close. The stock completed trading with a volume of 1.23 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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