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. 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. 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. ABOUT STERLITE TECHNOLOGIES LTD: Sterlite Technologies Limited (STL) is a BSE and NSE listed Company that shares the same lineage as the US $13 Bn Vedanta Group. 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. On the international front, the company is strengthening its existing global footprint in 75 countries & furthering its customer engagements. }, Juniper Networks announced that the company has entered into a definitive agreement…. Ratifying this transformation, Sterlite Tech has implemented a new brand identity and a logo. 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? 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). About the origin of Sterlite Technologies. In July 2006, STL acquired the transmission line business of SIL to foray into the power transmission cables business. 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. The Appointed Date for the Scheme is 1 October 2016 and the process is expected to complete by Q2 FY18. 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 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 Bombay Stock Exchange (BSE) filing. The de-merger will be effective April 1, 2015 subject to all necessary approvals. Over the past few years, Sterlite Tech has been closely involved in India’s nation building efforts, working with governments and private operators to build best-in-class broadband infrastructure. 6th-Jun-2016 16:53 Source: BSE. 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 of power transmission business is a strategic decision that provides a well-deser ved value building oppor tunity for the telecom business. Sterlite is an innovation powerhouse in next-gen technologies like 5G, AI , FTTx and Analytics. 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. "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 . It aims to transform everyday living by delivering smarter networks. →, An Investigation on Effect of Time Aging on Mechanical Behavior →, Sterlite Tech Q3 net profit up 83% to Rs 90 crore →, Are Networks in Emerging Markets Ready for Terabits Scale Optics →, Markets remain cautious on the eve of #Budget2018. The Scheme of Arrangement for demerger of the Power Products and Transmission Grid Business of Sterlite Technologies Limited Complaints Report Pre & Post Shareholding Patterns. Rivalry between multinationals, represented by companies such as Nokia, Ericsson, Huawei and ZTE, and domestic vendors such as Vihaan Networks, Sterlite Technologies and … Pradeep Gupta, CMD, CyberMedia Group welcoming Dr Arvind Gupta, National Head Information Technology, BJP. 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. 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. As part of the company’s growth accelerator strategy, Sterlite Tech has carved out a distinct pure play vertical focus on the Telecom Sector. 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 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. The demerger of power transmission business is a strategic decision that provides a well-deserved value building opportunity for the telecom business. 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. Update on Demerger Scheme . The demerger of power business will provide better opportunity for the company to focus on its telecom business, stated a media release by the company. History of Sterlite Technologies Ltd. Company including its incorporation date. 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 scheme involved a demerger of power products and transmission grid business from STL, a listed company, into SPTL, which was an unlisted company. Sterlite Technologies Ltd announced the demerger effective from the appointed date of April 1, 2015 of its Power Business into Sterlite Power Transmission Ltd. STL is the worlds leading data innovator. The company has successfully executed and strengthen edits core business with well-timed organic and inorganic moves. 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. ? Your email address will not be published. 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. Sterlite Technologies (STL) Shareholders short circuited in the Demerger ! Rao →, Telangana unveils ambitious T-Fiber program to enable high-speed broadband in villages →, Revisiting Link Loses Cable cuts, Link Reliability and Emerging Markets →, Why India must get fiberised to leapfrog to 5G →, Sterlite Tech Transforms Jaipur for Citizens & Tourists →, Sterlite Tech launches ‘BSS of the Future’ for rapid digitalisation of CSPs →, Enabling The World’s Largest Digital Inclusion →, Application of acceptance sampling in testing of optical fiber →, Sterlite Tech Q3 net profit surges 83% to Rs 900 million →. Sterlite Technologies (STL) Shareholders short circuited in the Demerger ! ... Sterlite Tech Shareholders short circuited in the Demerger ! 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. In July 2006, STL acquired the transmission line business of SIL to foray into the power transmission cables business. MUMBAI: Sterlite Technologies NSE 6.61 % ’ (STL) proposal to demerge its power transmission business into Sterlite Power Transmission (STPL) and not list the company on stock exchanges hasn’t gone down too well with some investor activists, who have asked shareholders to oppose the proposal. This evolution of business model will substantially increase the company’s addressable market size and drive improved ROCEs. Required fields are marked *, five  +  eight  =  .hide-if-no-js { Its pre-integrated platform has the capability to monetise all IP networks including 3G/LTE, Wi-Fi, Cable, ADSL, FTTH. As we ready ourselves for the next big evolution, the demerger gives us a unique and compelling business model to respond t o a dynamic mark et scenario, and in the process create maxim um value for our stakeholders.”, Dr Anand Agarwal, CEO, Sterlite Technologies, said, “This restructuring underscores our commitment to India’s broadband transformation. 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. 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. 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. display: none !important; 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. 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. 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. ... Sterlite Tech Shareholders short circuited in the Demerger ! STL Tech has expertise ranging from connectivity and access solutions, hyper-scale network design and deployment, programmable networks, to AI powered digital solutions. Record date is 16 June 2016. The demerger will be effective from April 1, 2015, subject to all necessary approvals. "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. As per the scheme of arrangement of demerger, the power products and transmission grid business of Sterlite As India quickly moves to its vision of technological evolution, Sterlite Tech’s smart networks will accelerate ICT performance and drive sustained growth in the coming decade. Sterlite Tech had acquired Elitecore Technologies in 2015. Sterlite Technologies has fixed Record Date as 16 June 2016 for purpose of determining entitlement of equity shareholders of Sterlite Technologies (STL) to receive shares of Sterlite Power Transmission (SPTL) pursuant to Scheme of Arrangement for demerger of the Power Products and Transmission Grid Business of STL into SPTL. The Appointed Date for the Scheme is 1 October 2016 and the process is expected to complete by Q2, FY18. 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. Our downloads is a repository of organization-related information and the thoughts of our team on the future of power transmission for our customers, partners, investors and stakeholders. The Appointed Date for the Scheme is 29 th September 2015. #BQLive →, Sterlite Tech Foundation Launches Advanced Mobile Medical Unit for Tribals →, Sterlite Tech to Build Next Gen Communications Network for the Indian Navy →, Sterlite Tech end higher; govt focuses on internet connectivity →, National telecom policy must address challenges →, Sterlite Tech delivers sustained growth, with highest-ever performance metrics →, Sterlite Tech Brings Smarter FTTH Plug & Play Technology to OFC 2018 →, Sterlite Tech Delivers Sustained Growth, With Highest-ever Performance Metrics →, Getting Future Ready: Equipment vendors’ perspective →, Interview with Sterlite Tech’s K.S. Your email address will not be published. KPIT Technologies Limited, KPIT Engineering Limited and Birlasoft (India) Limited. ... April 22,2016 ~ Mumbai High Court issues an Order approving the Scheme. Sterlite Tech also completed the merger of Elitecore Technologies, a solution provider of Operation Support Service (OSS) and Business Support Service (BSS). Demerger of Sterlite Technologies Ltd (STL) will result in two independent companies i.e. 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. →, Transforming Lives: Designing, building and managing smart cities →, A new approach to evaluate macro and microbending sensitivity of single mode optical fiber →, Sterlite Tech Launches ‘BSS of the Future’ for Rapid Digitalisation of CSPs →, Sterlite Tech Leads the Development of India’s First Smart City – Gandhinagar →, Sterlite Technologies bags Rs3,500 crore project from Indian Navy →, Plug & Play Smarter solution for FTTH deployment →, Certain percentage of GDP should be allocated for smart fibre infra: Sterlite Tech →, Has Sterlite Technologies Limited (NSE:STRTECH) Improved Earnings Growth In Recent Times? Has Work-From-Home decreased your efficiency? 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.”. 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The new avatar of Sterlite Tech is world’s leading & India’s only vertically integrated Optical Communication Products, Services & Software Company. Sterlite Technologies  announced the demerger effective from the appointed date of April 1, 2015 of its Power Business into Sterlite Power Transmission Ltd. ? Catch all details and other top stories on Primetime. Sterlite Techno - Record Date for Scheme of Arrangement . Telecom Company rechristened as "Sterlite Tech" and Power Company "Sterlite Power Transmission Ltd (SPTL)". We enjoy a distinct and formidable advantage of powering the digital revolution for India, and in the process, transforming millions of lives across the country. 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. ... April 22,2016 ~ Mumbai High Court issues an Order approving the Scheme. 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. 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 merger of Elitecore into Sterlite Tech will allow for seamless integration of two companies leading to stronger customer offe rings as one -telecom entity. 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). May 23,2016 ~ Order becomes effective on date of filing with Registrar of Companies. Get more Companies News and Business News on Zee Business. Becomes effective on date of April 1, 2015 subject to all necessary.... Is expected to complete by Q2, FY18 and inorganic moves business of SIL to foray into the Power Ltd. 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