Sterlite Technologies hits the roof on launching QIP; floor price of Rs 613.69/share

Sterlite Technologies hit the upper circuit of 5% at Rs 612.75 after the company announced the launch of its qualified institutional placement (QIP) issue and fixed the floor price at Rs 613.69 per equity share.

The company's Authorization and Allotment Committee approved the opening of the issue on 24 June 2026.

The floor price of Rs 613.69 is at a premium of 5.16% to the scrip?s previous closing price of Rs 583.60 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined in consultation with the bookrunning lead managers appointed for the issue.

Sterlite Technologies provides advanced connectivity solutions and offers end-to-end products and services for AI-ready infrastructure, FTTx, rural broadband, enterprise and data centre networks. On a consolidated basis, the company reported a net profit of Rs 59 crore in Q4 FY26 compared with a net loss of Rs 40 crore in Q4 FY25. Revenue from operations increased 36.98% year-on-year to Rs 1,441 crore during the quarter.

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