Sterlite Technologies is all set to spin off its power business into a separate unlisted company while retaining its telecom operations in the existing listed entity. The de-merger will be effective April 1, 2015 subject to all necessary approvals.
Following the restructuring, approved by the Board at its meeting on Monday, Sterlite will become a pure-play telecom products and solutions company, providing broadband solutions for fully converged networks.
The power products and the power transmission grid businesses will be de-merged into Sterlite Power Transmission (SPTL), an independent, unlisted entity.
Sterlite Technologies develops & delivers products, solutions and infrastructure for telecom & power transmission networks, globally.
| Company Name | CMP |
|---|---|
| Polycab India | 8194.50 |
| KEI Industries | 4877.80 |
| RR Kabel Ltd. | 1470.05 |
| Finolex Cables | 945.05 |
| Precision Wire India | 365.05 |
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