Sterlite Technologies Ltd. Allots Warrants to Twin Star Overseas Limited
March 30, 2026 - Sterlite Technologies Ltd. announced the allotment of warrants to Twin Star Overseas Limited, a promoter of the company, on a preferential basis via private placement. The Authorization and Allotment Committee of the Board of Directors approved the allotment of 4,53,00,000 warrants at a price of ₹110 per warrant. Each warrant is convertible into one fully paid-up equity share with a face value of ₹2 and a premium of ₹108. The warrants can be exercised within 18 months from the date of allotment.The table below details the warrant allotment:
| Allottee | Category | Number of Warrants Allotted | Price Per Warrant (₹) | Paid-up Value Per Warrant (₹) | Consideration Received (₹) |
|---|---|---|---|---|---|
| Twin Star Overseas Limited | Promoter | 4,53,00,000 | 110 | 27.5 | 1,24,57,50,000 |
Following the conversion and exercise of the warrants, Twin Star Overseas Limited will hold a 47.75% equity stake in Sterlite Technologies Ltd. on a fully diluted basis. The equity shares resulting from the warrant conversion will be listed on both the BSE Limited and the National Stock Exchange of India Limited.
The allotment was approved by the Board of Directors on February 07, 2026, and by the shareholders on March 04, 2026. All necessary approvals were received from the BSE Limited and National Stock Exchange of India Limited on March 30, 2026.
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