Public Relations

Sterlite Industries to raise funds via QIP

Sterlite Industries India, a Vedanta Group firm, today said it is planning to raise funds through the issue of securities under Qualified Institutional Placement (QIP) route. - Sterlite Energy mulls IPO to raise Rs 3,000 cr - Sterlite Energy mulls IPO to raise Rs 3,000 cr - Asarco creditors support Sterlite bid - 5 Indian firms in shortlist to exploit Afghan iron ore mine - Sterlite Q4 net dips 55% at Rs 598 cr - Grupo Mexico counters Sterlite, again Shareholders of the company have approved the resolution to issue appropriate securities to Qualified Institutional Buyers (QIBs) on a private placement basis, Sterlite Industries said in a filing to the Bombay Stock Exchange (BSE). However, the company did not disclose the size of the funds it intends to raise. Further, the mining firm"s shareholders have also approved the raising of funds through the issue of securities in the form of American Depository Receipts (ADRs), Global Depository Receipts (GDRs) and foreign currency convertible bonds (FCCBs), it added. Shares of Sterlite Industries were trading at Rs 577.55, marginally up by 0.32 per cent in the morning trade on the BSE.

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