STL Networks Ltd

STL Networks Ltd has provided clarification to the stock exchanges regarding the utilization of funds from its Preferential Issue. In continuation of previous communications, the company stated that until the complete utilization of funds as per the objects outlined in the Postal Ballot Notice dated April 18, 2026, the proceeds will be invested in permitted instruments. These include money market mutual funds and Fixed Deposits with Scheduled Commercial Banks. This update will also be available on the company's website.

STL Networks Limited has received an advance of ₹27 crore from its promoter, Twin Star Overseas Limited, representing 25% of the total consideration for the preferential issue of up to 4.5 crore warrants. This issue, approved by shareholders on May 19, 2026, is valued at up to ₹108 crore. The company is currently awaiting in-principle approval from the stock exchanges for the warrant allotment and will proceed upon receiving the necessary clearances.

STL Networks Ltd clarified the utilization of proceeds from its preferential issue, as requested by stock exchanges. 25% of the issue proceeds will be used for general corporate purposes, not exceeding 25% of the issue size. Until full utilization as per the Postal Ballot Notice dated April 18, 2026, the company will invest the proceeds in permissible instruments like mutual funds and fixed deposits through scheduled commercial banks. This information is available on the company website.

STL Networks Ltd has announced that its petition against Bharat Sanchar Nigam Limited (BSNL) under Section 34 of the Arbitration and Conciliation Act, 1996, has been dismissed by the Hon’ble High Court of Delhi. The petition sought to set aside the arbitral award dated May 09, 2023. The company is evaluating options to file an appeal against the order. STL Networks states that the dismissal has no immediate financial impact.

STL Networks Ltd's board approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The board also re-appointed KPMG Assurance And Consulting Services LLP as Internal Auditors for FY 2026-27. The meeting, held on May 7, 2026, commenced at 20:15 hours and concluded at 21:45 hours. The company confirms it is not a Large Corporate as per SEBI criteria. The results and related disclosures are available on the company's website.

STL Networks Ltd's Board of Directors approved the audited financial results (standalone and consolidated) for the quarter and financial year ended March 31, 2026. The board also approved the re-appointment of KPMG Assurance And Consulting Services LLP as Internal Auditors for the financial year 2026-27. The meeting, held on May 07, 2026, commenced at 20:15 hours and concluded at 21:45 hours. The company confirms it is not a Large Corporate as per SEBI criteria.

STL Networks Ltd's Board of Directors, in its meeting on May 07, 2026, approved the re-appointment of KPMG Assurance And Consulting Services LLP as Internal Auditors for the financial year 2026-27. The board also approved the audited financial results (standalone and consolidated) for the quarter and financial year ended March 31, 2026. The meeting commenced at 20:15 hours and concluded at 21:45 hours. The company confirmed it is not a Large Corporate as per SEBI criteria.

STL Networks Ltd has announced that its Board of Directors will convene a meeting on Thursday, May 07, 2026. The primary agenda for this meeting is to consider and approve the Audited Financial Results, both Standalone and Consolidated, for the quarter and financial year ended March 31, 2026. This notice is issued in compliance with Regulations 29, 33, 50, 52, and other applicable provisions of the SEBI Listing Regulations. Investors should anticipate the release of the company's full financial performance for the last fiscal year following this meeting.

STL Networks Ltd's wholly-owned step-down subsidiary, Clearcomm Group Limited, has successfully had a legal claim against it by Comex 2000 (UK) Limited dismissed by the Hon'ble Court. Comex had originally filed a breach of contract claim for £543,501.07. The matter was resolved through an out-of-court settlement, with Clearcomm Group Limited agreeing to pay £25,000 (excluding taxes) to Comex. The company has stated that this resolution will have no significant financial impact on STL Networks Ltd.

STL Networks Ltd's Board of Directors approved the preferential issue of up to 4.5 crore convertible warrants to its promoter, Twin Star Overseas Limited. Each warrant is priced at ₹24, aggregating to a total issue size of ₹108 crore. Each warrant is convertible into one equity share of face value ₹2 at a premium of ₹22. The warrants can be exercised within 18 months from allotment. This move, which requires shareholder approval, will increase the promoter's stake from 42.91% to 47.73% on a fully diluted basis post-allotment. The Board also approved amendments to the company's Articles of Association to facilitate the issuance of such securities.