Sterlite Technologies Shareholding Pattern - Promoter and Promoter Group - September 2019. He has been instrumental in the growth of the company’s telecom and power businesses. 70 per share will end up incurring loss based on cost allocated to STPL shares ( which will be 40%+ of the purchase price). For more information, please visit www.sterlitetechnologies.com, Contact The corporate restructuring is a potential value creator for all shareholders combined with an objective of bringing a sharper and independent focus on both the segments, which have reached a certain scale and addressing two distinct opportunities of sustainably large magnitudes. Telecom and Power Transmission Solution provider Sterlite Technologies Limited is set to spin-off its power business into a separate unlisted entity named 'Sterlite Power Transmission Limited' while retaining its telecom business in the listed entity. Sterlite Technologies Limited is listed on the National Stock Exchange and Bombay Stock Exchange. The Ministry of Power, Government of India, has initiated a scheme for development of Independent Power Transmission projects through private sector participation, for evacuation of power from the generation stations, strengthening of the grid and transmission of power from pooling stations to the other grid stations and load centres. The equity in Power business will mostly be held by promoters. Sterlite Technologies Limited “Sterlite” [BSE: 532374, NSE:STRTECH], a leading global provider of transmission solutions for the power and telecom industries, announced that the Company has been awarded the Letter of Intent by Power Finance Corporation Limited (PFC) for its East-North interconnection mega transmission project. The shareholders have been given an exit option to choose to depend on their investment preference but considering STPL shares are not going to be listed, it works out as compulsory exit without following delisting guidelines. Point of Interest: Sterlite’s stock surged 10% after it was awarded an advance purchase order to design, build and manage the Indian Navy’s communications network. This enables telcos leverage our OPGW fiber-based utility network to meet the growing broadband demands in the country. One needs to examine whether exit option offered to shareholders is reasonably considering delisting regulations and takeover regulations. Sterlite Power and Sterlite Technologies are pioneers in power and data transmission products and solutions with a global presence in over 100 countries. Sterlite is an innovation powerhouse in next-gen technologies like 5G, AI , FTTx and Analytics. Sterlite Technologies Q1 FY 14 profitability at Rs. The company extensively uses aviation technologies such as drones, LiDAR and heli-stringing for undertaking surveys, finalising route alignments, and execution. Copyright © 2021 M&A Critique!. At Sterlite Power, work is driven by a strong focus on social impact, overcoming obstacles and innovation to find solutions to complex workplace challenges. You must not reproduce, duplicate, copy, sell, resell or exploit any material on the Website for any commercial purposes.We have made a sincere effort to ensure that all photographs used on this website are either freely available in the public domain or used with permission. If you believe your work is being used inappropriately, please let us know and we will address the matter immediately. Further, both businesses have now reached a meaningful scale and will be able to benefit by becoming independently focused businesses. The Company is India’s market leader and will be the Largest Manufacturer Globally of overhead transmission power conductors in 2010. However, despite the incredible numbers, there seems to be a problem. Its joint ventures include – China -75%:25% with Tongguang for drawing optic fiber and Brazil -50:50 JV with Conduspar for fiber cabling. STL is among the global leaders in all its business areas of Optical Fiber, Fiber Optic Cables, Power Condctors and HV/EHV Power Cables through its operations in India, China & Brazil. Sterlite Power is a leading global developer of power transmission infrastructure with projects of over ~12,500 circuit km and 22,719 MVA in India and Brazil.. With an industry-leading portfolio of power conductors, EHV cables, and OPGW, Sterlite Power also offers solutions for upgrading, praying, and strengthening existing networks. The project, costing about Rs. As on date power business is not making money so the option is to raise further capital before redemption of preference shares. Sterlite Technologies Ltd (Sterlite) is set to spin-off its power business into a separate unlisted company, while retaining its telecom business in the listed entity. Considering the differentiated attributes, the inherent business models and capital requirement of each of this business, the equity shares of the telecom business will continue to be publicly listed, while those of the demerged power business will remain unlisted. Sterlite Technologies helps Tata Power augment power carrying capacity for a critical Mumbai line August 13,2013. The de-merger will be effective April 1, 2015 subject to all necessary approvals. As a result of the restructuring, Sterlite Technologies Limited will become a pure-play Telecom Products & Solutions company providing Broadband Solutions for Fully Converged Networks. Moreover, the capital intensity and return profiles of this business are very different and do not enjoy material synergistic benefits from being housed together. 112.30. Sterlite Technologies Limited (STL) develops & delivers products, solutions and infrastructure for telecom & power transmission networks, globally. Holding unlisted equity shares won’t be beneficial considering the capital gains implications as well as difficulty in selling the unlisted shares in future. Currently, both the Telecom business and Power Products and Transmission Grid are housed under the same company though operates as separate business units. "Sterlite Technologies has retained 1500-1600 people while about 700 employees are with Sterlite Power," Anand Agarwal said. Both, Sterlite Technologies and Sterlite Power, will be controlled by business tycoon Anil Agarwal's Volcan Investments. Sterlite Technologies Limited (STL) is a BSE and NSE listed Company that shares the same lineage as the US $13 Bn Vedanta Group. 110.30), Amount per share to be given on redemption after 18 months, The total amount that STPL would have to pay to shareholders on redemption after 18 months. The current status of Sterlite Technologies Limited is - Active. STL is among the global leaders in all its business areas of Optical Fiber, Fiber Optic Cables Power Conductors, and HV / EHV Power Cables. If the shareholders hold on to RPS up to 18 months they would get Rs.125.80 per share. By clicking Login, you agree to the Mnacritique, Validity of BuyBack Of Shares-Section 230, Companies Act 2013, No. The Power business would have a debt of Rs. Sterlite Power’s Convergence business unit connects 94 districts and 393 towns with 6,816 km of reliable OPGW network. 1 ELECTION NOTICE THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION Dear Eligible Member, This Election Notice is sent to you pursuant to the Scheme of Arrangement between Sterlite Technologies Limited (“STL/ Company”) and Sterlite Power Transmission Limited (“SPTL/ Resulting Company”) and their respective shareholders and of equity shares held by public shareholders in STL, No. In future, the power business (STPL) can be merged with Vedanta, thereby maintaining the promoter’s stake. The deal was worth a whopping 3500 Crores. 2 would be allotted at the premium of Rs. The project has been awarded to Sterlite Technologies on a ‘Build, Own, Operate and Maintain’ (BOOM) basis, wherein the transmission lines would be commissioned within 3 years and the Company would operate and maintain the same for a minimum tenure of 22 years thereafter. This is in line with our Vision to become a leading player in Power Transmission. Says Dr Anand Agarwal, CEO & Director – Sterlite Technologies Ltd, “The award of this mega project to Sterlite is a great achievement for the Company. STL is among the global leaders in all its business areas of Optical Fiber, Fiber Optic Cables, Power Conductors and HV / EHV Power Cables through its operations in India, China & Brazil. Sterlite Technologies Limited (STL) has been operating with the objective to plan, promote and develop an integrated and efficient power transmission system network in all aspects including planning, investigation, research, designing, engineering, construction, operation and maintenance of transmission lines and sub-stations in accordance with the policies and guidelines laid down by the Central … Sterlite Grid successfully commissions project September 18,2013. 469 crores. Volcan Investments is also the parent company of Vedanta Group. Sterlite Power Grid Ventures Limited  New Delhi: Sterlite Technologies (STL) is planning to spend at least ₹300 crore to boost its optic fibre cable production capacity to tap into demand for the product expected to rise to nearly 25 million fibre kilometres (fkm) by 2022 given it’s key for high-speed data connectivity and 5G networks, a top company executive said. In 1992 Maharashtra Industrial Development Corporation (MIDC) allotted plot in Ratnagiri district's Zadgaon village.On December 13, 1993, over 30,000 people of the city marched to the unit and demolished the quarters for the construction workers and some other structures. "The demerger scheme was earlier approved by the High Court of Mumbai on April 22, 2016, post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015," Sterlite Technologies said in a BSE filing. 4207 crores against a net worth of Rs. Sterlite Technologies Limited “Sterlite”, a leading global provider of transmission solutions for the power and telecom industries, announced that the Company has been awarded the Letter of Intent by Power Finance Corporation Limited (PFC) for its East … Equipped with a product portfolio that includes power conductors, optical power ground wire, EHV/HV power cables, optical fibers, telecommunication cables and a comprehensive telecom systems / solutions portfolio, Sterlite’s vision is ‘Connect every home on the planet’. Thus, separation of the Power Products and Transmission Grid Business together with its business, undertakings, and investments (including the investment of the Demerged Company in power transmission infrastructure companies) as a going concern, pursuant to the scheme of arrangement, from the Demerged Company would lead to significant benefits for both businesses including: The corporate restructuring scheme envisages various options for the investors of Sterlite Technologies. allowing each business to create a strong and distinct platform which enables greater flexibility to pursue long-term objectives; enabling accelerated growth of the telecom business and allowing the power business to explore suitable strategies to fund its growth plans; offering shareholders a clear focused investment opportunity in the telecom sector and thereby unlocking the value of their holding; and. As per the restructuring scheme, STPL equity shares would remain unlisted, thus it would be more beneficial for the public shareholders to opt for the RPS. The equity shares of the telecom business will continue to be publicly listed, while those of the newly-formed power business will remain unlisted. Sterlite Technologies Limited is a leading global provider of transmission solutions for the telecom and power industries. Non- resident shareholders excluding FPIs shall be issued equity shares of STPL and they shall sell the same to promoters and/ or their affiliates. Equipped with a product portfolio that includes power conductors, optical power ground wire, EHV/HV power cables, optical fibers, telecommunication cables and a comprehensive telecom systems / solutions portfolio, Sterlite’s vision is ‘Connect every home on the planet’. The Board has approved to demerge the Power Products Business and the Power Transmission GridBusiness into a separate entity named ‘Sterlite Power Transmission Ltd.’. STL Tech has expertise ranging from connectivity and access solutions, hyper-scale network design and deployment, programmable networks, to AI powered digital solutions. The Company has over 50 patents in its name in USA, EU, India and China. The share entitlement ratio report has been prepared by Price Waterhouse & Co LLP with a fairness opinion done by Axis Capital who are acting as financial advisers to STL. The project involves establishment of two 400KV Double Circuit transmission lines that would respectively connect the Indian states of Assam with West Bengal and Bihar. The businesses are well poised in their respective segments with multiple growth drivers. 800 crores, was won by Sterlite on the basis of its technical and financial credentials through a Tariff based Bidding Process conducted by PFC. Sterlite Technologies Limited's operating revenues range is Over INR 500 cr for the financial year ending on 31 March, 2019. The decision to keep the equity shares of the power business unlisted is in line with the global model for such infrastructure companies, which are not amiable to quarterly public market reporting requirements and need operational freedom and capital structure flexibility. Sterlite Technologies will be demerging its power and telecom businesses in order to focus on each separately. So it will be a challenge to explain to secured creditors and lenders and get their approval to the scheme without offering other securities and guarantees. 22.46/- per equity share of STL. All pages of the Website are subject to our terms and conditions and privacy policy. Phone: +91.11.49962282 mitul.thakkar@sterlite.com, Sterlite Grid commissions two lines and two substations of the Bhopal – Dhule Transmission project, Sterlite Power wins the coveted S&P Global Platts Global Energy Awards 2019 - The Oscars of the Energy Industry, Sterlite Power acquires 28.4% stake in its transmission infrastructure business from Standard Chartered Private Equity for INR 1,010 Cr, Sterlite Technologies wins the first mega independent power transmission project of the Country. Sterlite Copper is a subsidiary of Sterlite industries, a company owned by Vedanta Limited.. Overview. Alternatively, the shareholders can sell their shares to the promoters within 30 days of allotment at a price of Rs. 885 crores, implying a value of Rs. Sterlite Power has always been at the forefront of technology in all phases of transmission project development, from concept to commissioning. The promoters of STL which account for 54.82% will be compulsorily allotted equity shares in STPL, i.e. 674 crores against a pre-restructuring consolidated net debt of Rs. Sterlite Power was awarded its eleventh project of length 821 ckms in the North Eastern Region. Investors will have the choice to continue to be associated with one or both of these two businesses. Sterlite Technologies will be demerging its power and telecom businesses in order to focus on each separately. The demerger will essentially provide two separate and distinct platforms, one for Telecom business, which is in a high growth stage in the backdrop of huge data consumption opportunity and the other for Power business, which will be a strategic vehicle for the creation of infrastructure assets in the growing transmission sector. Sterlite Technologies Limited (SGL) develops & delivers products, solutions and infrastructure for telecom & power transmission networks, globally. The Company has a Global sales presence with sales offices in countries like China, India, Netherlands, Russia, South Africa, Turkey, UAE, and the UK. For every 5 equity shares held in STL, investors will retain 5 shares of STL+ option to receive either: The value of the demerged undertaking after taking into consideration the allocation of debt would be Rs. If leaving a lasting impact on society serves as motivation for you, a career at Sterlite Power can be very rewarding. The demerger will be effective from April 1, 2015, subject to all necessary approvals. Sterlite Power Transmission Ltd. (SPTL) demerged from Sterlite Technologies Ltd. (STL) IndiGrid was formed as a registered trust, filed DRHP with SEBI. Sterlite Technologies is a significant contributor to the global power sector through indigenous manufacturing of a complete range of high voltage power transmission conductors at Extra High Voltages (400kV – 800kV), High Voltages (66kV – 220kV) and power distribution conductors (11kV- 33kV). AMP Capital and Sterlite Power will invest $150 million each on the development of 1,800 km of transmission lines. Sterlite Power commissioned its fifth project. Why not demerge the power business directly into Vedanta? Mr. Agarwal is a dedicated philanthropist at heart and believes in safeguarding society's most vulnerable sections and protecting humanity's long-term prospects. The award of this Project provides great scope to diversify into the growing sector of Power Transmission with many similar opportunities available in future.”, Sterlite Technologies Limited (formerly, Sterlite Optical Technologies Ltd) is a leading global provider of transmission solutions for the energy and telecom industries. allowing shareholders an option to align with their investment philosophy by continuing to participate in the long-term capital-intensive power sector if they choose or select available options to fairly and appropriately exit. Another question that can be asked is why demerge the power business into a separate company? Approval of RBI and relevant authorities would be required to issue shares to Foreign Portfolio Investors. He has paved the way for Sterlite Power and Sterlite Technologies to be the pioneers in power and data transmission products and solutions globally in over 100 countries. Sterlite Power Transmission Ltd shall issue and allot equity shares at par on proportionate basis to the shareholders of Sterlite Technologies Ltd, in the following proportion: Sterlite Power has parted with debt of Rs 5,500 crore out of total debt of Rs 6,500 crore that was in the books of Sterlite Technologies. It is amongst the most integrated optical fiber manufacturers globally and amongst the Top 3 global providers of overhead transmission power conductors. of RPS to be allotted in STPL (Shares of Face Value of Rs. Sterlite Power overcame inefficiencies of conventional design and construction modeling methodologies with 3D and 4D BIM technology to enhance visualization, collaboration, and efficiency Project timeline acceleration had a positive impact on the ROI and enabled faster delivery of reliable power to over 30 million people Sterlite Optical Technologies is a world leader in providing optical fibers, telecommunication cables, and power transmission conductors. The company has its name listed at National Stock Exchange and Bombay Stock Exchange. The nature of risk and competition inherent in each of the Telecom and Power Products and Transmission Grid Business is distinct since both are subject to distinct business cycle and operate inter alia, under different regulations and market structure, necessitating different management approaches and focus. Sterlite Technologies Limited is a leading global provider of transmission solutions for the telecom and power industries. Link to the Actual News Post on Sterlite’s Website. It also has manufacturing locations in India, China, and Brazil. Redemption of preference shares can be done only out of profits or fresh issue of capital. It is a wholly owned subsidiary of Sterlite Technologies Limited. It is India's only manufacturer of integrated optical fiber. The direct demerger would have given the shareholders of STL an opportunity to hold shares in Vedanta. Corporate restructuring NEW DELHI: Sterlite Technologies today announced demerger of its power business into Sterlite Power Transmission to become a pure-play telecom firm. The company has over 1500 full-time employees. Under his leadership, the Company has grown from an optical-fiber manufacturer to one of the leading global providers of products, solutions, and services for telecom and power industries. [(3940.6*54.82%)/5]. The company is heavily debt-ridden and on redemption, net worth will come down to almost nil (without considering a further issue of capital). 432 lakhs equity shares. Sterlite Power is a leading global developer of power transmission infrastructure. It is listed on Bombay Stock Exchange and National Stock Exchange of India.It has 425 patents and is active in over 150 countries. STL - Sterlite Technologies Limited (Formerly Sterlite Tech) NSE: STLTECH formed in 1988 is a digital technology company with offices in India, China, US, SEA, Europe and MEA. 4881 crores. SterliteTechnologies Limited essentially operates in two distinct sectors — that is Telecom and Power. The East-North interconnection mega transmission project, which aims to evacuate power from the North-East and Eastern states to the Northern region of India is the first Mega Independent Power Transmission Project to be awarded in India. It develops & delivers products, solutions, and infrastructure for telecom & power transmission networks, globally. Post this, as of 31st March 2015, on a proforma basis STL will retain a consolidated net debt of Rs. STL is the worlds leading data innovator. We believe SEBI and stock exchange approval may not come in easily. This question becomes more relevant if in near future Vedanta subscribes to the further issue of equity capital to facilitate redemption of preference shares or even before redemption the scheme to merge STPL with Vedanta is announced. Details of the owner of Sterlite Technologies (Wiki) Dr. Anand Agarwal has been the CEO of Sterlite Tech since 2003. Telecom and Power Transmission Solution provider Sterlite Technologies Limited is set to spin-off its power business into a separate unlisted entity named ‘Sterlite Power Transmission Limited’ while retaining its telecom business in the listed entity. STL - Sterlite Technologies Limited | 163,085 followers on LinkedIn. Get Sterlite Technologies latest Consolidated Quarterly Results, Financial Statements and Sterlite Technologies detailed profit and loss accounts. If a shareholder who bought share above Rs. Sterlite Technologies Limited has eight directors - Anil Kumar Agarwal, Arun Todarwal Lalchand, and others. 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