Sterlite Technologies QIP: share price surged 5% on Thursday to its intra-day high of ₹613.35, after the company moved ahead with a Qualified Institutions Placement (QIP) of equity shares aimed at strengthening its capital base.
Meanwhile, it fixed the at ₹613.69 per equity share.
In a regulatory filing dated June 24, the company said the Authorization and Allotment Committee of the Board approved the opening of the issue on June 24.
At its latest meeting on June 24, 2026, the Authorization and Allotment Committee approved key steps for the QIP, including the opening of the issue and the adoption of the preliminary placement document along with the application form for qualified institutional buyers (QIBs).
“The Committee has fixed the ‘relevant date’ for the purpose of the Issue, in terms of the Regulation 171(b)(i) of the SEBI ICDR Regulations, as June 24, 2026, i.e., date of the meeting in which the Committee decides to open the Issue and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is ₹613.69 per Equity Share.”
Issue details
The relates to equity shares of face value of ₹2 each and is being undertaken under Chapter VI of the SEBI ICDR Regulations and Sections 42, 23(1)(b), and 62(1)(c) of the Companies Act, 2013.
The company said the Board had approved the proposal at its meeting held on April 29, 2026, while shareholders approved it through a special resolution passed via postal ballot on June 16, 2026. The Committee subsequently approved the opening of the issue at its meeting held on June 24, 2026.
It added that STL may offer a discount of not more than 5% on the floor price for the issue. The final issue price will be determined by the company in consultation with the book running lead managers (BRLMs).
Meanwhile, the trading window for designated insiders remains closed from May 14, 2026, and will reopen 48 hours after the issue price is finalized, in line with the company’s insider trading code.
Sterlite Technologies Share Price Trend
Sterlite Technologies has given exceptional returns in the near term. Its shares have rallied 225% over the past three months, 492% in the last 6 months, and 512% in the last 1 year.
However, in the past 1 week, it has shed 5%.
The stock had hit its 52-week high of ₹684.45 in June 2026 and its 52-week low of ₹84.65 in January 2026.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.