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PRNewswire
Mumbai (Maharashtra) [India], July 3: STL [NSE: STLTECH], a leading optical connectivity solutions company, announced that it has raised INR 1500 Cr through a Qualified Institutions Placement (QIP). The entire process saw participation by reputed domestic and global investors including Motilal Oswal, Nomura, HSBC, Bank of India, Oxbow, Think Investments, Bandhan and Manulife, among others. The robust response underscores investor confidence in STL's 30+ years of experience in manufacturing quality optical connectivity products using, its vertically integrated "Glass to Terabit" capability, and the growing global demand for optical connectivity products driven by digital infrastructure buildouts by AI data centers, telecom players and large scale government programs. The Company has allotted 2.57 crore equity shares to qualified institutional buyers, aggregating to INR 1,500 crore. Following the allotment, STL's paid-up equity share capital stands increased to INR 102.78 crore, comprising 51.39 crore equity shares. The proceeds from the QIP will be primarily utilized to substantially de-leverage the Company's balance sheet, significantly enhancing financial strength while creating a robust platform to fund the next phase of STL's growth. Ankit Agarwal, Managing Director, STL, said: "We are thankful to our investors for their continued support. This capital raise reflects the trust our investors place in STL's vision and execution. We will deploy these funds to strengthen our balance sheet, pursue the next phase of our growth journey and accelerate our mission of transforming billions of lives by connecting the world." About STL - Sterlite Technologies Ltd: STL is a leading optical connectivity solutions company, providing end-to-end solutions for building AI-ready infrastructure, FTTx, Rural Connectivity, Enterprise and Data Centre networks. With manufacturing facilities in North America, Europe and Asia, we deliver our solutions in more than 100 countries. Data Centre & Cloud companies, Telecom operators, Internet service providers and Large enterprises collaborate with STL to build their digital infrastructure. STL's business goals are driven by customer-centricity, R&D and sustainability. Read more, Contact us, stl.tech | Twitter | LinkedIn| YouTube (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
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