Company allotted 2.57cr equity shares to institutional buyers
STL [NSE: STLTECH], a leading optical connectivity solutions company, has raised Rs.1,500 crore 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 centres, telecom players and large-scale government programs.
The Pune-headquartered company has allotted 2.57 crore equity shares to qualified institutional buyers, aggregating to Rs.1,500 crore. Following the allotment, STL’s paid-up equity share capital stands increased to Rs.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.
STL Managing Director Angkit Agarwal said on 2 July, “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.” Fiinews.com
