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.
