Sterlite Tech shares hit 5% upper circuit after firm launches QIP issue with ₹613.69/share floor price

Shares of Sterlite Tech surged 5% to hit its intraday high and upper circuit of ₹613.35 on Thursday’s market, compared to ₹584.15 at the previous stock market close, according to NSE data.

The company shares have a price tolerance band of 5% on either side for the upper and lower circuit breakers. As of 9:38 am, the trading has been suspended till the stock lowers from its upper circuit levels.

Sterlite Tech QIP floor price & other details

Sterlite Tech has launched its QIP issue after the board of directors’ approval on Wednesday, June 24, as the company invites bids from eligible qualified institutional buyers (QIBs) for subscription of equity shares.

Sterlite Tech’s QIP issue has been fixed at a floor price of ₹613.69 per equity share, based on the pricing formula under the regulations of the capital market watchdog, Securities and Exchange Board of India (SEBI).

The company’s QIP issue may offer a discount of not more than 5% on the floor price, as approved by the shareholders through a special resolution on June 24, 2026, according to the NSE filing.

The company likely aims to create a liquidity buffer with the help of fresh capital infusion, which will also reduce the company’s net debt to profitability ratio ahead of the upcoming potential data centre infrastructure cycles.

A qualified institutional placement (QIP) is a way for companies in India to raise capital from QIBs like mutual funds, insurance companies, pension funds, and foreign investors in exchange for issuing equity shares of the company.

This move allows the companies to quickly raise capital as per their needs while also skipping the lengthy regulatory scrutiny which is required for a further public offering. Hence, the proceeds can be used to fund several business activities, including expansion plans and debt reduction, among others.

Share performance & earnings

Sterlite Tech shares have delivered more than 120% returns to investors in the last five years, over 294% gains in the last three years, and over 483% returns on their investments in the past one year, according to NSE data.

On a year-to-date basis, the company’s stock has surged 470% in the Indian stock market, and the shares were up 26% in the last one month. However, Sterlite Tech shares have dropped 9.6% over the last five trading sessions on NSE.

The company shares surged to a 52-week high of ₹679.90 on June 5, 2026, while the 52-week low was at ₹84.60 on January 27, 2026, according to the exchange data. Sterlite Tech’s market capitalisation (m-cap) was at ₹29,942 crore as of Thursday’s trading session.

Reflecting on the Q4 results, the financial statements showed that Sterlite Technologies’ consolidated net profits witnessed a multi-fold jump to ₹59 crore in the March quarter, compared to ₹5 crore in the same period a year earlier.

While the company’s revenue from core operations advanced nearly 37% to ₹1,441 crore in the same period.