Sterlite Technologies Limited. — Capital/Financing Update 2023

Nov 29, 2023

www.stl.tech

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November 29, 2023

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: Disclosure of events under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) read with SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, we hereby inform you that Metallurgica Bresciana S.p.A., Italy (“ MB ”) ( a wholly owned subsidiary of the Sterlite Technologies Limited (STL), has agreed to sell its 40% of outstanding shares held in Metallurgica Bresciana Maanshan Special Cable Ltd., China (“ MB Manshaan ”) (“ Proposed Transaction ”), subject to regulatory approvals, if any.

For this purpose, MB and MB Manshaan have entered into definitive documents with the relevant parties to record the terms and conditions of the Proposed Transaction and related matters.

The details as required under SEBI Listing Regulations, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, 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

AMIT VILAS Digitally signed by AMIT VILAS DESHPANDE DESHPANDE Date: 2023.11.29 11:26:35 +05'30'

Amit Deshpande General Counsel & Company Secretary (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

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Annexure A

S.No	Particulars	Description
A	The amount and percentage of the turnover orrevenue or income and net worth contributed by suchunit or division of the listed entity during the lastfinancial year;	MB Manshaan (associate entity) is a 40% jointventure of MB, a wholly owned subsidiary companyof STL. Accordingly, the Equity Method ofAccounting is applicable, wherein MB‘s share ofprofits in MB Manshaan is consolidated at STL level.MB Maanshan’s contribution to STL’s consolidatedprofit for the FY 23 was INR 4.40 crores, whichtranslates to 1.40% of the total consolidated profitbefore exceptional items and tax of STL.
B	Date on which the agreement for sale has beenentered into;	28thNovember 2023 (“Signature Date”)
C	The expected date of completion of sale/disposal;	Date of completion of sale is subject to fulfilment ofconditions precedents including approvals fromrelevant Government authorities.
D	Consideration received from such sale/disposal;	Euro 5,950,000 (Euro 5.95 million), which will bereceived in a phased manner as follows:i.Euro 1.91 million to be received uponfulfilment of conditions; andii.Balance amount Euro 4.04 million to bereceived within 11 months from theSignature Date
E	Brief details of buyers and whether any of the buyersbelong to the promoter/ promoter group/groupcompanies. If yes, details thereof;	MB, a wholly owned subsidiary of STL is selling the40% equity share capital held in MB Manshaan toMr. Li Peng, who is the existing JV Partner in MBManshaan.The purchaser does not belong to the Promotergroup.
F	Whether the transaction would fall within relatedparty transactions? If yes, whether the same is doneat “arm’s length”;	No
G	Whether the sale, lease or disposal of the undertakingis outside Scheme of Arrangement? If yes, details ofthe same including compliance with regulation 37A ofSEBI ListingRegulations	No
H	Additionally, in case of a slump sale, indicativedisclosures provided for amalgamation/merger, shallbe disclosed by the listed entity with respect to suchslumpsale.	Not Applicable

For Sterlite Technologies Limited

AMIT VILAS Digitally signed by AMIT VILAS DESHPANDE DESHPANDE Date: 2023.11.29 11:27:02 +05'30'

Amit Deshpande

General Counsel & Company Secretary (ACS 17551)

Sterlite Technologies Limited

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