sterlite power and sterlite technologies

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 … Alternatively, the shareholders can sell their shares to the promoters within 30 days of allotment at a price of Rs. Sterlite Power commissioned its fifth project. 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. It is a wholly owned subsidiary of Sterlite Technologies Limited. The promoters of STL which account for 54.82% will be compulsorily allotted equity shares in STPL, i.e. The Company is India’s market leader and will be the Largest Manufacturer Globally of overhead transmission power conductors in 2010. 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. Post this, as of 31st March 2015, on a proforma basis STL will retain a consolidated net debt of Rs. 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 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 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 Technologies Limited is listed on the National Stock Exchange and Bombay Stock Exchange. He has been instrumental in the growth of the company’s telecom and power businesses. "Sterlite Technologies has retained 1500-1600 people while about 700 employees are with Sterlite Power," Anand Agarwal said. 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. Sterlite Technologies Limited is a leading global provider of transmission solutions for the telecom and power industries. 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 The Board has approved to demerge the Power Products Business and the Power Transmission GridBusiness into a separate entity named ‘Sterlite Power Transmission Ltd.’. The company extensively uses aviation technologies such as drones, LiDAR and heli-stringing for undertaking surveys, finalising route alignments, and execution. Sterlite Grid successfully commissions project September 18,2013. 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 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. Link to the Actual News Post on Sterlite’s Website. We believe SEBI and stock exchange approval may not come in easily. Sterlite Power and Sterlite Technologies are pioneers in power and data transmission products and solutions with a global presence in over 100 countries. The company has over 1500 full-time employees. Volcan Investments is also the parent company of Vedanta Group. The equity shares of the telecom business will continue to be publicly listed, while those of the newly-formed power business will remain unlisted. 112.30. All pages of the Website are subject to our terms and conditions and privacy policy. 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 company is heavily debt-ridden and on redemption, net worth will come down to almost nil (without considering a further issue of capital). The equity in Power business will mostly be held by promoters. 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. Sterlite Technologies Shareholding Pattern - Promoter and Promoter Group - September 2019. 469 crores. If the shareholders hold on to RPS up to 18 months they would get Rs.125.80 per share. Both, Sterlite Technologies and Sterlite Power, will be controlled by business tycoon Anil Agarwal's Volcan Investments. 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 deal was worth a whopping 3500 Crores. This is in line with our Vision to become a leading player in Power Transmission. Another question that can be asked is why demerge the power business into a separate company? 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. Sterlite Power Transmission Ltd (STPL)is a public company recently incorporated to carry on the business, of manufacturing of power transmission products such as power conductors and high voltage and extra high voltage cables, providing turnkey solutions for power industries and participating in the creation of power transmission infrastructure across the country. For more information, please visit www.sterlitetechnologies.com, Contact 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. If you believe your work is being used inappropriately, please let us know and we will address the matter immediately. Currently, both the Telecom business and Power Products and Transmission Grid are housed under the same company though operates as separate business units. If leaving a lasting impact on society serves as motivation for you, a career at Sterlite Power can be very rewarding. 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. [(3940.6*54.82%)/5]. Sterlite Technologies Limited (STL) develops & delivers products, solutions and infrastructure for telecom & power transmission networks, globally. Sterlite Copper is a subsidiary of Sterlite industries, a company owned by Vedanta Limited.. Overview. 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. Further, both businesses have now reached a meaningful scale and will be able to benefit by becoming independently focused businesses. 800 crores, was won by Sterlite on the basis of its technical and financial credentials through a Tariff based Bidding Process conducted by PFC. 885 crores, implying a value of Rs. of RPS to be allotted in STPL (Shares of Face Value of Rs. The direct demerger would have given the shareholders of STL an opportunity to hold shares in Vedanta. The Power business would have a debt of Rs. Non- resident shareholders excluding FPIs shall be issued equity shares of STPL and they shall sell the same to promoters and/ or their affiliates. 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). Corporate restructuring 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. SterliteTechnologies Limited essentially operates in two distinct sectors — that is Telecom and Power. 432 lakhs equity shares. NEW DELHI: Sterlite Technologies today announced demerger of its power business into Sterlite Power Transmission to become a pure-play telecom firm. Says Dr Anand Agarwal, CEO & Director – Sterlite Technologies Ltd, “The award of this mega project to Sterlite is a great achievement for the Company. At Sterlite Power, work is driven by a strong focus on social impact, overcoming obstacles and innovation to find solutions to complex workplace challenges. The demerger will be effective from 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. 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. The Company has a Global sales presence with sales offices in countries like China, India, Netherlands, Russia, South Africa, Turkey, UAE, and the UK. Sterlite Technologies Limited (SGL) develops & delivers products, solutions and infrastructure for telecom & power transmission networks, globally. of equity shares held by public shareholders in STL, No. As on date power business is not making money so the option is to raise further capital before redemption of preference shares. 674 crores against a pre-restructuring consolidated net debt of Rs. 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. 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. Sterlite Power was awarded its eleventh project of length 821 ckms in the North Eastern Region. Sterlite Technologies will be demerging its power and telecom businesses in order to focus on each separately. The businesses are well poised in their respective segments with multiple growth drivers. 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. It is listed on Bombay Stock Exchange and National Stock Exchange of India.It has 425 patents and is active in over 150 countries. The company has its name listed at National Stock Exchange and Bombay Stock Exchange. 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 is a leading global developer of power transmission infrastructure. STL is the worlds leading data innovator. 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. Why not demerge the power business directly into Vedanta? Holding unlisted equity shares won’t be beneficial considering the capital gains implications as well as difficulty in selling the unlisted shares in future. 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 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 (STL) is a BSE and NSE listed Company that shares the same lineage as the US $13 Bn Vedanta Group. It develops & delivers products, solutions, and infrastructure for telecom & power transmission networks, globally. The project, costing about Rs. Sterlite Optical Technologies is a world leader in providing optical fibers, telecommunication cables, and power transmission conductors. 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 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. 4207 crores against a net worth of Rs. 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. It is amongst the most integrated optical fiber manufacturers globally and amongst the Top 3 global providers of overhead transmission power conductors. Details of the owner of Sterlite Technologies (Wiki) Dr. Anand Agarwal has been the CEO of Sterlite Tech since 2003. 2 would be allotted at the premium of Rs. "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. Sterlite Power has always been at the forefront of technology in all phases of transmission project development, from concept to commissioning. 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. Has its name in USA, EU, India and China a lasting impact on society serves motivation. 150 countries '' Anand Agarwal said tycoon Anil Agarwal 's Volcan Investments is also the parent company of Group... Well poised in their respective segments with multiple growth drivers Promoter Group - September 2019 for. 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