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Sterlite Technologies to spin off its power business

19 May 2015 Evaluate

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.

Sterlite Tech. Share Price

647.45 -15.75 (-2.37%)
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