Maithan Alloys Acquires 0.29% Stake in Sterlite Technologies Limited through Stock Exchange
Maithan Alloys Limited has completed the acquisition of equity shares in Sterlite Technologies Limited. The transaction was finalized through the stock exchange and is part of a long-term investment strategy for the company.The acquisition, which occurred on August 4, 2026, involved Maithan Alloys acquiring 1,483,256 shares of Sterlite Technologies Limited at a total cost of Rs. 91.24 Crore. This stake represents 0.29% of the target entity's shareholding. The company confirmed that it does not intend to acquire control over the management of Sterlite Technologies Limited.
The acquisition is categorized as a cash consideration and was conducted at arms length.
Financial Snapshot of Target Entity
As of March 31, 2026, the financial metrics for Sterlite Technologies Limited were:| Metric | Value (as of 31.03.2026) |
|---|---|
| Turnover | Rs. 2446 Crore |
| PAT | Rs. 2 Crore |
| Networth | Rs. 1526 Crore |
Background and Objects of Acquisition
The acquisition was executed with the objective of reaping long-term or short-term investment benefits for Maithan Alloys Limited. Sterlite Technologies Limited operates in the Telecom Equipment & Accessories industry. The company's operations primarily involve manufacturing and supplying telecom products and providing digital and technology solutions.Sterlite Technologies Limited has a history of turnover across its last three financial years:
- Financial Year 2025-2026: Rs. 2446 Crore
- Financial Year 2024-2025: Rs. 2215 Crore
- Financial Year 2023-2024: Rs. 3952 Crore
The acquired entity is based in India and was incorporated on March 24, 2000.
Transaction Details Summary
Key details regarding the acquisition of Sterlite Technologies Limited by Maithan Alloys Limited are provided below:| Detail | Information |
|---|---|
| Target Entity Name | Sterlite Technologies Limited |
| Nature of Consideration | Cash Consideration |
| Total Cost of Acquisition | Rs. 91.24 Crore (as of August 4, 2026) |
| Percentage/Number of Shares Acquired | 0.29% (1,483,256 shares) |
| Business Objective | Long-term/short-term investment benefit; no intention to acquire control. |
| Industry | Telecom Equipment & Accessories |
The information about the target entity was sourced from its website and Annual Report for FY 25-26 and BSE website data.
MAITHANALL Stock Price Movement
As of 2:59 PM, shares of Maithan Alloys Limited are edging higher at ₹966.35 as they gain 0.37% in live trading. The stock maintains strong momentum, trading within a solid intraday range established between the low of ₹963.30 and the day high marking ₹978.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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