Twin Star Overseas Ltd has confirmed to the stock exchanges that it has not created any encumbrance, directly or indirectly, on its shareholding in Sterlite Technologies Ltd during the financial year 2025-26. The disclosure, submitted on April 7, 2026, addresses the status of the company's holdings in the target company, Sterlite Technologies Ltd, for the specified period.

The filing was made in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires disclosures regarding any encumbrance on shares held by acquirers. The company stated that apart from any previously disclosed encumbrances, if any, no new charges have been created against the shareholding during FY26.

The communication was addressed to the National Stock Exchange of India Limited and BSE Limited, as well as the Audit Committee of Sterlite Technologies Ltd. Niralah Beeharry, an Authorised Signatory, signed the disclosure on behalf of Twin Star Overseas Ltd.

Key Disclosure Details

The confirmation ensures that the exchanges and the audit committee of the target company are updated on the holding status of the acquirer for the relevant financial year.

STL Networks Limited received Rs 27 crore as the initial subscription amount for the preferential issue of warrants to its promoter, Twin Star Overseas Limited. This payment, made on June 2, 2026, covers 25% of the total consideration for the issuance of up to 4,50,00,000 warrants convertible into equity shares, aggregating up to Rs 108 crore. The transaction follows shareholder approval granted through a postal ballot on May 19, 2026.

The receipt of funds is in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the terms approved by shareholders. The company is currently awaiting in-principle approval from the stock exchanges for the allotment of these warrants. STL Networks Limited intends to proceed with the allotment upon receiving the requisite approvals and will inform the exchanges accordingly.

Key Details of the Preferential Issue

The warrants are convertible into equity shares, and the full subscription process is subject to regulatory compliance and stock exchange approvals.