Sterlite Technologies (STL) has signed a Business Transfer Agreement to transfer its Digital Business Undertaking to STL Digital, a wholly owned subsidiary of STL, as a going concern on a slump sale basis. The Business Transfer Agreement is executed on February 27, 2023. The consideration received from such sale/disposal is Rs 15 crore.
The Digital Business Undertaking is currently operated as one of the business divisions of STL performing its business in areas of IT/ITES, professional and consultancy services including cloud services, other services relating to IT/ITES. The Digital Business Undertaking is on a growth trajectory and offers significant potential for future growth if certain strategic actions are taken.
Sterlite Technologies is one of the industry's leading integrators of digital networks providing All-in 5G solutions.
