13 Jul , 2026 By : Debdeep Gupta
Sterlite Technologies (STL) share price declined in the early trade despite company secured a decisive victory in European patent dispute with Japan's Fujikuras.
At 09:23am, Sterlite Technologies was quoting at Rs 536.00, down Rs 5.80, or 1.07 percent, on the BSE.
The European Patent Office's (EPO) Technical Board of Appeal has issued a final, binding and non-appealable ruling revoking Fujikura's European Patent EP 3796060 in its entirety.
The order, passed following a hearing on June 24, also resolves the related UK patent dispute in STL's favour.
The development comes days after the company successfully raised Rs 1,500 crore through a Qualified Institutions Placement (QIP) by allotting 2.57 crore equity shares to qualified institutional buyers. Following the allotment, the company's paid-up equity share capital increased to Rs 102.78 crore, comprising 51.39 crore equity shares.
The proceeds from the QIP will be primarily utilized to substantially de-leverage the Company's balance sheet, significantly enhancing financial strength while creating a robust platform to fund the next phase of STL's growth.
In the previous trading session, company shares closed at Rs 541.80, down 1.7 percent. The stock has gained more than 540 percent from its 52-week low of Rs 84.65, although it remains nearly 21 percent below its 52-week high of Rs 684.45. The company currently commands a market capitalisation of Rs 27,843 crore.
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