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Sterlite to raise $1.5bn through overseas offering priced at $12.15

Sterlite Industries, a non-ferrous metal producer and subsidiary of Vedanta Resources, announced a massive fund raising exercise, with the amount exceeding media reports. The company, with 2008-09 revenues of Rs 21,144 crore or $4.4bn, has said it will raise about $1.5bn with the promoter subscribing to $500mn or about one-third of the issue. The issue will be priced at $12.15 or Rs 583 per ADS. Continue Reading →

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