Your email address will not be published. In the Board Meeting held on 27 October 2016 the Board of Directors of Sterlite Technologies approved a Scheme of demerger of the Passive Infrastructure Business of Speedon Network Limited (SNL) a wholly owned subsidiary of the company. }, Juniper Networks announced that the company has entered into a definitive agreement…. The Scheme of Arrangement for demerger of the Power Products and Transmission Grid Business of Sterlite Technologies Limited Complaints Report Pre & Post Shareholding Patterns. Sterlite Tech had acquired Elitecore Technologies in 2015. The Appointed Date for the Scheme is 1 October 2016 and the process is expected to complete by Q2 FY18. ... April 22,2016 ~ Mumbai High Court issues an Order approving the Scheme. May 23,2016 ~ Order becomes effective on date of filing with Registrar of Companies. The demerger of power business from Sterlite Technologies is effective from the appointed date of April 1, 2015. Sterlite Tech has been in transformation phase for the last few years from a manufacturing play to a specialty business model straddling the entire telecom value chain by significantly adding its presence into solutions, software and ser vices. Globally, optical fiber demand was close to 370 million fkm last year, and continues to have an optimistic outlook in the backdrop of growing data consumption. The merger of Elitecore into Sterlite Tech will allow for seamless integration of two companies leading to stronger customer offe rings as one -telecom entity. Required fields are marked *, five + eight = .hide-if-no-js { Sterlite Technologies announced the demerger effective from the appointed date of April 1, 2015 of its Power Business into Sterlite Power Transmission Ltd. ? It aims to transform everyday living by delivering smarter networks. The demerger puts us in an even better position to serve our nation, and create great products and services for our customers and partners alike. On the international front, the company is strengthening its existing global footprint in 75 countries & furthering its customer engagements. SEBI in its observation letter dated 28 August 2015 objected to the scheme of arrangement between Sterlite Technologies Limited (STL) and Sterlite Power Transmission Limited (STPL). Sterlite Technologies announced the demerger effective from the appointed date of April 1, 2015 of its Power Business into Sterlite Power Transmission Ltd. 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. 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. May 23,2016 ~ Order becomes effective on date of filing with Registrar of Companies. ... Sterlite Tech Shareholders short circuited in the Demerger ! Get more Companies News and Business News on Zee Business. 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. The demerger of power transmission business is a strategic decision that provides a well-deser ved value building oppor tunity for the telecom business. As per the scheme of arrangement of demerger, the power products and transmission grid business of Sterlite Sterlite Technologies Limited has filed an application in court just to get directions from Bombay High Court that the filing of Petition by Sterlite Technologies Limited are dispensed with. display: none !important; Dr Gupta was the Chief Guest of the evening, (L-R) Sunil Sharma, VP, Sales, India & Saarc, Cyberoam and Dr Arvind Gupta, National Head IT giving the Dataquest Business Technology Award to Sapient Consulting for the best IT implementation in security, mobility, unified communications, and infrastructure management, Jubilant Lifesciences received the award for best IT implementation in analytics, mobility, cloud, ERP/SCM/CRM, ING Vysya Bank received the award for best IT implementation in mobility and ERP/SCM/CRM, infrastructure management, Escorts received the award for best IT implementation in analytics and security, Amity received the award for best IT implementation in security and unified communications, LV Bank received the award for best IT implementation in unified communications, Biocon received the award for best IT implementation in mobility and unified communications, Happiest Minds received the award for best IT implementation in security and cloud, HCL Infosystems received the award for best IT implementation in cloud and ERP/SCM/CRM, Evalueserve received the award for best IT implementation in security and cloud, Sterlite Technologies received the award for best IT implementation in analytics and cloud, Serco Global received the award for best IT implementation in mobility and cloud, Intellect Design Arena received the award for best IT implementation in cloud and unified communications, Reliance Entertainment received the award for best IT implementation in analytics and cloud, Canon India received the award for best IT implementation in analytics, Persistant Systems received the award for best IT implementation in analytics, ILFS received the award for best IT implementation in infrastructure management, eClerx received the award for best IT implementation in analytics, Sesa Sterlite received the award for best IT implementation in ERP/SCM/CRM, Hero Moto Corp received the award for best IT implementation in ERP?SCM?CRM, KPIT received the award for best IT implementation in unified communications, JK Tyres received the award for best IT implementation in analytics, Idea Cellular received the award for best IT implementation in analytics, Godfrey Philips received the award for best IT implementation in infrastructure management, Aviva Life Insurance Co received the award for best IT implementation in infrastructure management, Hindalco received the award for best IT implementation in analytics, Aircel received the award for best IT implementation in unified communications, Dr Lal Path Labs received the award for best IT implementation in cloud, Gati received the award for best IT implementation in mobility, Perfetti Van Melle received the award for best IT implementation in cloud, Sheela Foam received the award for best IT implementation in mobility, Tata Communication received the award for best IT implementation in ERP/SCM/CRM, NDTV received the award for best IT implementation in analytics, Hindustan Power received the award for best IT implementation in mobility, © Copyright © 2014 Cyber Media (India) Ltd. All rights reserved, Demerged Sterlite Tech transforms into a pure play telecom player. Demerger to create value for telecom business We met the management of Sterlite Technologies (Sterlite) to get a deeper insight into the triggers that lay ahead for the pure play telecom entity post the de-merger. In July 2006, STL acquired the transmission line business of SIL to foray into the power transmission cables business. Sterlite Optical Technologies Ltd, incorporated on 24 March 2co000 under the name of Sterlite Telecom Systems Ltd.It was formed after the demerger of the telecom business from Sterlite Industries (India), with effect from July 1, … Sterlite Tech also announced completion of Elitecore Technologies’ merger, which is a global provider of Operation Support Service (OSS) & Business Support Ser vice (BSS) solution. From the investors’ perspective, the listed entity post demerger will have a better financial profile: • With significant debt reduction on balance sheet • Impro ved return ratios • High- cash g enerating business • Strong growth out look. Sterlite Technologies (STL) Shareholders short circuited in the Demerger ! 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 demerger of power transmission business is a strategic decision that provides a well-deserved value building opportunity for the telecom business. Sterlite is an innovation powerhouse in next-gen technologies like 5G, AI , FTTx and Analytics. Optical Fiber Composite Young’s Modulus Theoretical Approach, Line →, Sterlite Technologies: Strong Growth Continues →, Which Cut-off wavelength to be considered – Optical Fiber or Fiber Optic Cable? 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Pravin Agarwal, Whole-Time Director & Vice Chairman, Sterlite Technologies, said, “The last few years have seen Sterlite Tech grow rapidly, and we have developed breakthrough innovations with over 100 patents. Our growth over the last several years bears testimony to the astuteness of our vision and we remain committed to making India truly digit al.”. Mehul shah is a Partner in the Corporate and Commercial Practice Group in the Khaitan & Co. View more details about education, email, practices, professional affiliations, recognition, articles, representative matters, publications and presentations, download CV etc at Khaitan & Co, India. Sterlite Technologies Limited, formerly Sterlite Optical Technologies Limited (SOTL), was established in July 2001 after the demerger of the telecom division of Sterlite Industries Ltd (SIL). The scheme involved a demerger of power products and transmission grid business from STL, a listed company, into SPTL, which was an unlisted company. Advised on the composite scheme of arrangement in relation to the proposed merger of Birlasoft (India) Limited with KPIT Technologies Limited and as part of the same scheme, demerger of engineering business of KPIT Technologies Limited into KPIT Engineering Limited. Sterlite Techno - Record Date for Scheme of Arrangement . The Demerger Scheme was earlier approved by the High Cour t of Mumbai on April 22, 2016 post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015. 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. Through its manufacturing facilities in India, China and Brazil, Sterlite Tech is already a major supplier to global Telcos with supply footprint across 20 countries. This evolution of business model will substantially increase the company’s addressable market size and drive improved ROCEs. 6th-Jun-2016 16:53 Source: BSE. The demerger has thus allowed the company to aggressively pitch for the opportunities of a rapidly changing broadband market, reignite its innovation pipeline, strengthen its go-to-market strategy and unlock greater value for shareholders. Sterlite Technologies Limited, formerly Sterlite Optical Technologies Limited (SOTL), was established in July 2001 after the demerger of the telecom division of Sterlite Industries Ltd (SIL). As a result of this restructuring, Sterlite Technologies Limited ("STL") will become a pure–play Telecom Products & Solutions company providing Broadband Solutions for Fully Converged Networks. This has been achieved through its optical communication product portfolio of high technology glass preforms, optical fibres & fibre cables, new service offerings such as system & network integration, as w ell as OSS/BSS enablement. KPIT Technologies Limited, KPIT Engineering Limited and Birlasoft (India) Limited. ? 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