Around 600% Returns In The Last 5 Months: This Multibagger Optical Fibre Manufacturer Hits 5% Upper Circuit; Here's Why
DSIJ Intelligence / 25 Jun 2026 / Categories: Mindshare, Trending
Sterlite Technologies has launched a Qualified Institutions Placement with a floor price of Rs 613.69 per share, as it seeks to raise capital from institutional investors under SEBI regulations.
Indian benchmark indices Sensex and Nifty 50 were expected to begin Thursday's session on a positive note, supported by a sharp decline in crude oil prices. As trading commenced, the Nifty 50 rose 157.10 points, or 0.65 per cent, to 24,178.75. Amid the positive market sentiment, Sterlite Technologies (STL) share price hit the 5 per cent upper circuit at Rs 613.35, following the company's announcement to launch a Qualified Institutions Placement (QIP).
STL Opens Qualified Institutions Placement
Sterlite Technologies informed the exchanges that the Authorisation and Allotment Committee of the Board has approved the opening of its Qualified Institutions Placement (QIP) on June 24, 2026, in accordance with Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The committee has fixed the floor price at Rs 613.69 per equity share, determined in accordance with Regulation 176(1) of the SEBI ICDR Regulations. The company also approved the preliminary placement document and application form to invite bids from eligible Qualified Institutional Buyers (QIBs).
Sterlite Technologies Approves QIP at Rs 613.69 Floor Price, Allows Up to 5 per cent Discount
Sterlite Technologies stated that it may offer a discount of up to 5 per cent on the floor price of Rs 613.69 per share, subject to shareholder approval already obtained through a special resolution passed on June 16, 2026.
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If the company extends the full 5 per cent discount, the indicative issue price would be approximately Rs 583 per equity share. However, the final issue price will be determined in consultation with the book-running lead managers based on investor demand during the QIP process.
QIP To Raise Institutional Capital
The company has fixed June 24, 2026, as the relevant date for the QIP under SEBI regulations. The capital raise is being undertaken under the provisions of the Companies Act, 2013, and SEBI ICDR Regulations after receiving board approval on April 29, 2026, followed by shareholder approval on June 16, 2026.
Notably, STL had previously raised Rs 1,000 crore through a Qualified Institutions Placement in April 2024, issuing 8.84 crore equity shares at Rs 113.05 per share.
About Sterlite Technologies
Sterlite Technologies Ltd (STL) is a leading telecom and digital network solutions company engaged in manufacturing optical fibres, optical fibre cables, speciality cables and optical connectivity products. The company also provides digital network integration and technology solutions for telecom operators, enterprises and data centre customers.
STL operates 10 integrated manufacturing facilities across India, Italy, Brazil, the United States and China, serving customers in over 100 countries. As of March 31, 2025, the company had 23 subsidiaries across multiple geographies, strengthening its global presence in optical networking and digital infrastructure solutions.
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Add NowDisclaimer: The article is for informational purposes only and should not be construed as investment advice.