STL Networks Details Utilization Plan for Preferential Issue Proceeds
STL Networks Limited confirmed key operational details regarding the utilization and temporary investment of funds raised through its recent Preferential Issue. The company stated that 25% of the total proceeds raised from the preferential issue will be earmarked for General Corporate Purpose, noting that this allocation cannot exceed 25% of the overall issue size.The company also provided clarity on the interim use of funds. Until the complete utilization of proceeds, as stipulated by the objectives detailed in the Postal Ballot Notice dated April 18, 2026, STL Networks Limited will invest the funds in instruments permitted under applicable laws. These permitted instruments include, among others, mutual funds and Fixed Deposits through Schedule Commercial Banks.
STLNETWORK Stock Price Movement
Today, STL Networks Limited shares edged higher, settling at ₹30.35 after gaining 4.98% in after-hours trading. The stock showed strong buying interest, with the total traded volume reaching approximately 4.05 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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