Sterlite Technologies Limited. - Capital/Financing Update 2023

www.stl.tech

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

February 27, 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

Dear Sir / Madam,

Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [“SEBI (LODR) Regulations, 2015”]

Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to inform you that Sterlite Technologies Limited (“Transferor Company” or “STL”) has signed a Business Transfer Agreement to transfer its Digital Business Undertaking to STL Digital Limited, a wholly owned subsidiary of STL, as a going concern on a slump sale basis.

The details, as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9[th] September, 2015 is enclosed as Annexure – A.

We request you to take the aforesaid on record.

Thanking you.

Yours sincerely,

For Sterlite Technologies Limited

Digitally signed by AMIT VILAS AMIT VILAS DESHPANDE DESHPANDE Date: 2023.02.27 15:47:59 +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

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

Annexure A

		Annexure A	Annexure A	Annexure A	Annexure A	Annexure A
Sr. No	Particulars	Disclosure
1	The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during the last financial year;	On a standalone basis as on 31st March, 2022 (In INR crs)					% 0.03% -0.65%
		Particulars		STL	Digital Business Undertaking		%
		Total Income		5,080.49	1.42		0.03%
		Net-worth		1,842.96	(11.65)		-0.65%

2	Date on which the agreement for sale has been entered into	The Business Transfer Agreement is executed on February 27, 2023.
3	The expected date of completion of sale/disposal	Date of closing for transfer of Digital Business Undertaking to STL Digital Limited – 1st April, 2023, or such other date mutually agreed between the parties.
4	Consideration received from such sale/disposal;	INR 15 crores, subject to working capital adjustments as on the Closing Date as per the terms of Business Transfer Agreement.
5	Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof;	STL Digital Limited is a public limited company and a wholly owned subsidiary of Sterlite Technologies Limited, incorporated on 20th December 2018 under the Companies Act, 2013 having CIN U72100DN2018PLC005557 and its registered office at Plot No 33/1/1, Waghadara Road, Dadra, Silvasa DN - 396230;
6	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arms-length.	Yes, the transaction is a related party transaction between STL and STL Digital Limited (a wholly owned subsidiary of STL). Since the transaction is between the holding company and its wholly owned subsidiary and the entire economic value of the wholly owned subsidiary following the transfer of the undertaking will remain with the holding company, the arm’s length principle is shall not apply.
7	Name of the entity(ies) forming part of the amalgamation/ merger, details in brief such as, size, turnover etc.;					STL Digital Limited (Transferee) U72100DN2018PLC005557 Nil (0.32)
		Name of the entity	Sterlite Technologies Limited (Transferor) L31300PN2000PLC202408			STL Digital Limited (Transferee) U72100DN2018PLC005557
		Turnover as on 31st March 2022 (in INR crores)	5,080.49			Nil
		Networth as on 31st	1,842.96			(0.32)