Sterlite Technologies Limited has approved the preferential allotment of 4,53,00,000 Warrants to its promoter, Twin Star Overseas Limited, on March 30, 2026. Each warrant is priced at Rs. 110, with an initial payment of Rs. 27.5 received upfront. Upon full conversion, the promoter’s resultant equity stake in the company will reach 47.75% on a fully diluted basis.
Preferential Allotment of Warrants Approved
The Authorization and Allotment Committee of the Board of Directors of Sterlite Technologies Limited, in its meeting held on March 30, 2026, approved the allotment of 4,53,00,000 (Four Crores Fifty Three Lakhs) Warrants.
This allotment is made to the company’s Promoter, Twin Star Overseas Limited, on a preferential basis via private placement. The allotment price for each Warrant is set at Rs. 110 (Rupees One Hundred Ten only).
Warrant Conversion Details
Each Warrant grants the holder the right to subscribe to one fully paid-up equity share of the Company, which has a face value of Rs. 2, at a premium of Rs. 108.
The Warrants can be exercised in one or more tranches within a period expiring 18 (Eighteen) months from the date of allotment.
Consideration Received Upfront
The initial consideration received upon allotment (representing at least 25% of the issue price) for the 4,53,00,000 Warrants amounted to Rs. 1,24,57,50,000.
- Price Paid Upfront: Rs. 27.5 per Warrant (25% of Rs. 110).
- Future Payment Required: The Warrant holder must pay an additional Rs. 82.5/- (75% of the issue price) at the time of exercising the right to subscribe to the equity shares.
Impact on Shareholding
Following the full conversion and exercise of these Warrants into equity shares, the Twin Star Overseas Limited will hold 47.75% (Forty Seven point Seventy Five percent) equity stake in the Company, calculated on a fully diluted basis. These resultant equity shares will rank pari passu with the existing fully paid-up equity shares.
Compliance and Authority
This allotment was made pursuant to resolutions passed by the Board on February 07, 2026, and by the Shareholders on March 04, 2026. In-principle approval from both the BSE Limited and the National Stock Exchange of India Limited was received on March 30, 2026.
Source: BSE
