Sterlite Technologies Limited. — Capital/Financing Update 2022

Jun 29, 2022

www.stl.tech

==> picture [79 x 31] intentionally omitted <==

June 29, 2022

BSE Limited National Stock Exchange of India Ltd Corporate Relations Department Exchange Plaza, 5[th] Floor, 1[st] Floor, New Trading Ring, Plot. C/1, G-Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Bandra (East), Mumbai 400 001 Mumbai 400 051 Scrip Code: 532374; Scrip ID: STLTECH Symbol: STLTECH

Scrip Code: 532374; Scrip ID: STLTECH

Dear Sirs,

Sub: STL acquires balance stake in Jiangsu Sterlite Tongguang Fiber Co. Ltd.

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Sterlite Technologies Limited (STL) has signed the definitive agreement to acquire balance 25% stake in Jiangsu Sterlite Tongguang Fiber Co. Ltd. (JSTFCL). STL’s current shareholding in JSTFCL is 75%. Postacquisition of balance 25% stake, JSTFCL will become a wholly owned subsidiary of STL. The closing as per the agreement is subject to the conditions precedents as set out in the agreement for acquisition.

The details as required under SEBI Listing Regulations, read with SEBI Circular No. CIR/CFD/CMD/4/ 2015 dated September 9, 2015, for the said divestment is enclosed herewith as Annexure ‘A’.

We request you to take the aforesaid on record.

Thanking you.

Yours sincerely,

For Sterlite Technologies Limited

==> picture [116 x 31] intentionally omitted <==

Amit Deshpande

Company Secretary & Corporate General Counsel (ACS 17551)

Enclosures: As above

Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 41001, India. CIN - L31300PN2000PLC202408

www.stl.tech

==> picture [79 x 31] intentionally omitted <==

Annexure A

S.No	Particulars	Description
A	Name of the target entity, details in brief such as size,turnover etc.	Jiangsu Sterlite Tongguang Fiber Co. Ltd. (JSTFCL)
B	Whether the acquisition would fall within relatedparty transaction(s) and whether the promoter/promoter group/ group companies have any interestin the entity being acquired?If yes, nature of interest and details thereof andwhether the same is done at “arm’s length”	STL’s current shareholding in JSTFCL is 75% throughits wholly owned subsidiary Sterlite Global Ventures(Mauritius) Limited (SGVML) with the remaining25% held by Jiangsu Tongguang Information Co. Ltd.Post-acquisition of balance 25% stake, JSTFCL willbecome a wholly owned subsidiary of STL.
C	Industry to which the entity being acquired belongs	Manufacturing of optical fiber.
D	Objects and effects of acquisition (including but notlimited to, disclosure of reasons for acquisition oftarget entity, if its business is outside the main line ofbusiness of the listed entity)	Acquisition of the remaining 25% of JSTFCL willensure optical fiber supply security to support STL’sexpanding optical fiber cable operations.
E	Brief details of any governmental or regulatoryapprovals required for the acquisition	The change in shareholding is subject to approval byChina’s State Administration for Market Regulationsand China’s State Administration of ForeignExchange.
F	Indicative time period for completion of theacquisition	90 business days from signing the agreement
G	Nature of consideration- whether cash considerationor share swap and details of the same	Cash consideration
H	Cost of acquisition or the price at which the shares areacquired	RMB 55.67 Mn (approx. INR 65 Cr)
I	Shareholding percentage acquired	25% (taking the total shareholding of STL in JSTFCLto 100%)
J	Brief background about the entity acquired in termsof products/line of business acquired, date ofincorporation, history of last 3 years’ turnover,country in which the acquired entity has presence andanyother significant information(in brief)	JSTFCL was incorporated as a joint venture betweenSTL and Jiangsu Tongguang Information Co. Ltd. inChina in January 2011 to manufacture optical fiber.

For Sterlite Technologies Limited

==> picture [116 x 32] intentionally omitted <==

Amit Deshpande

Company Secretary & Corporate General Counsel (ACS 17551)

Sterlite Technologies Limited

Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 41001, India. CIN - L31300PN2000PLC202408