Further, both businesses have now reached a meaningful scale and will be able to benefit by becoming independently focused businesses. Sterlite Technologies will be demerging its power and telecom businesses in order to focus on each separately. 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 Grid Ventures Limited  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. Get Sterlite Technologies latest Consolidated Quarterly Results, Financial Statements and Sterlite Technologies detailed profit and loss accounts. 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. 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. 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). 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 equity in Power business will mostly be held by promoters. It is a wholly owned subsidiary of Sterlite Technologies Limited. Its joint ventures include – China -75%:25% with Tongguang for drawing optic fiber and Brazil -50:50 JV with Conduspar for fiber cabling. 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. 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 The de-merger will be effective April 1, 2015 subject to all necessary approvals. 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. [(3940.6*54.82%)/5]. For more information, please visit www.sterlitetechnologies.com, Contact The company has its name listed at National Stock Exchange and Bombay Stock Exchange. The project, costing about Rs. Moreover, the capital intensity and return profiles of this business are very different and do not enjoy material synergistic benefits from being housed together. AMP Capital and Sterlite Power will invest $150 million each on the development of 1,800 km of transmission lines. Link to the Actual News Post on Sterlite’s Website. 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. of RPS to be allotted in STPL (Shares of Face Value of Rs. If you believe your work is being used inappropriately, please let us know and we will address the matter immediately. Mr. Agarwal is a dedicated philanthropist at heart and believes in safeguarding society's most vulnerable sections and protecting humanity's long-term prospects. Volcan Investments is also the parent company of Vedanta Group. 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. Sterlite Technologies Limited (STL) develops & delivers products, solutions and infrastructure for telecom & power transmission networks, globally. Sterlite Technologies Limited (STL) is a BSE and NSE listed Company that shares the same lineage as the US $13 Bn Vedanta Group. 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. 885 crores, implying a value of Rs. Why not demerge the power business directly into Vedanta? 432 lakhs equity shares. He has been instrumental in the growth of the company’s telecom and power businesses. 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 Ltd (Sterlite) is set to spin-off its power business into a separate unlisted company, while retaining its telecom business in the listed entity. The company has over 1500 full-time employees. 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. The same to promoters and/ or their affiliates poised in their respective segments with multiple drivers! 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