Sterlite Tech board approves fund raise of Rs1000 crore

2 May 2022 , 09:17 AM

Sterlite Technologies Ltd has informed to the exchanges regarding fund raising proposal approed by the Board of Directors.

As per the regulatory filing, subject to the approval of the shareholders of the Company at the ensuing the AGM, the Board at its meeting held on April 28, 2022 approved, raising of funds, inter alia, by issue of equity shares, any financial instruments and/or security convertible into‐equity shares, combination of such securities by way of one or more public and/or private offerings, qualified institutions placements and/or preferential allotments and/or rights offering or any combination thereof or any other method in accordance with the provisions of applicable laws, for an aggregate consideration of up to Rs1000 crore.

At around 9:17 AM, Sterlite Tech was trading at Rs193.40 per piece higher by 0.13% on the BSE. The scrip opened at Rs194 per piece today. The current market cap of the company is Rs7,682.67 crore.