AZB & Partners, Cyril Amarchand Mangaldas and Hogan Lovells have acted for Sterlite Technologies’ qualified institutional placement (QIP) of 25,728,500 equity shares at a face value of INR2 each, raising around INR15 billion (USD159 million).
Net proceeds from the QIP will be used to repay and/or prepay outstanding borrowings of Styerlite and some of its subsidiaries, with the balance going towards general corporate purposes.
CAM acted for Sterlite Technologies, with partners Gokul Rajan, regional co-head of capital markets north, and Amitpal Singh. Senior associate Aditya Singh, and associates Harshita Pareek, Jayadeep Manchikalapudi, Prakhar Jain and Naman Kulshrestha also provided support.
AZB acted for the bookrunning lead managers, which included Nuvama Wealth Management, JP Morgan India and Nomura Financial Advisory and Securities (India).
Hogan Lovells acted as international counsel to the bookrunning lead managers with partner Biswajit Chatterjee, head of the India practice and Dubai office managing partner, leading the team. Counsel Kaustubh George, and senior associates Ajo Jomy and Aditya Rajput provided support.
Headquartered in India, Sterlite Technologies is a global optical and digital technology company, which is listed on the NSE and BSE, with a presence across multiple international markets. The company has a global distribution network, more than 700 patents (including granted patents and patent applications), and manufacturing facilities in India, Italy, the US and China.
As of 2026, Sterlite is India’s leading end-to-end manufacturer of optical fibre and optical fibre cables by manufacturing capacity. Its product portfolio includes optical fibres, optical fibre cables, speciality cables and optical connectivity products, serving communication networks, data infrastructure and enterprise connectivity solutions.
