Investment30 March 2026 at 06:43 am
Sterlite Technologies Ltd Allots 4.53 Crore Warrants to Promoter at Rs. 110 Each
AI Summary
Sterlite Technologies Ltd has approved the allotment of 4,53,00,000 warrants to its promoter, Twin Star Overseas Limited, at a price of Rs. 110 per warrant. Each warrant is convertible into and exchangeable for one fully paid-up equity share of the company, with a face value of Rs. 2 and a premium of Rs. 108. The warrants may be exercised in one or more tranches during the period commencing from the date of allotment until expiry of 18 months. Upon conversion and exercise of the warrants into equity shares, Twin Star Overseas Limited will hold 47.75% equity stake in the company, on a fully diluted basis.
Key Highlights
- Sterlite Technologies Ltd allots 4,53,00,000 warrants to its promoter, Twin Star Overseas Limited.
- Each warrant is priced at Rs. 110, convertible into one equity share with a face value of Rs. 2 and a premium of Rs. 108.
- The warrants may be exercised in one or more tranches within 18 months from the date of allotment.
- Upon conversion, Twin Star Overseas Limited will hold 47.75% equity stake in Sterlite Technologies Ltd, on a fully diluted basis.
- The allotment is made pursuant to the resolutions passed by the Board of Directors and Shareholders, and in accordance with SEBI regulations and other applicable rules.