Maithan Alloys Limited
Maithan Alloys Limited submitted a regulatory disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 regarding acquisition of equity shares of Sterlite Technologies Limited through stock exchange.
Acquisition Details
- Target Entity: Sterlite Technologies Limited
- Date of Acquisition: August 4, 2026
- Number of Shares Acquired: 1,483,256 equity shares
- Percentage of Shareholding: 0.29%
- Total Cost of Acquisition: ₹91.24 crore
- Consideration Type: Cash consideration
- Completion Status: Acquisition completed on August 4, 2026
Target Company Financials (as at March 31, 2026)
- Turnover: ₹2,446 crore
- PAT: ₹2 crore
- Networth: ₹1,526 crore
Historical Turnover of Target Company
- 2025-2026: ₹2,446 crore
- 2024-2025: ₹2,215 crore
- 2023-2024: ₹3,952 crore
Transaction Characteristics
- Related Party Transaction: No
- Promoter/Promoter Group Interest: No
- Arm's Length Transaction: Yes
- Government/Regulatory Approvals Required: No
Business Background of Target Entity
Sterlite Technologies Limited (incorporated March 24, 2000) operates primarily in manufacturing and supply of telecom products and providing digital and technology solutions. The company conducts integrated manufacturing operations through 9 manufacturing facilities located in India, Italy, United States of America, and China, producing:
- Optical fibres
- Optical fibre cables and specialty cables
- Optical connectivity products
The company has presence in India.
Purpose and Impact
The shares were acquired through stock exchange and form part of investment of Maithan Alloys Limited with view to reap long-term/short-term investment benefits. Maithan Alloys Limited does not intend to acquire control whether directly or indirectly of the management of the Target Entity.
Additional Information
The information relating to Sterlite Technologies Limited was obtained from its website, Annual Report for FY 25-26, and BSE website.