Sterlite Technologies Limited has successfully concluded its board meeting held on February 7, 2026, approving a significant fund raising proposal through convertible warrants. The board has approved the issuance of up to 4.53 crore convertible warrants to its promoter Twin Star Overseas Limited, valued at ₹498.30 crore.

Board Meeting Outcome

The board meeting, which commenced at 10:00 am and concluded at 11:15 am on February 7, 2026, deliberated on multiple strategic initiatives. The company has formally notified both National Stock Exchange and BSE Limited about the meeting outcomes in compliance with Regulation 30 of SEBI Listing Regulations.

Convertible Warrant Issuance Approval

The board has approved the creation, issuance and allotment of up to 4,53,00,000 convertible warrants to Twin Star Overseas Limited, the company's promoter. Each warrant is priced at ₹110, including both subscription and exercise price, aggregating to a total issue size of ₹498,30,00,000.

Each warrant is convertible into one equity share of face value ₹2 at a premium of ₹108 per share. The warrants can be exercised in one or more tranches during an 18-month period commencing from the allotment date. Unexercised warrants will lapse after this period, with amounts paid being forfeited.

Articles of Association Amendments

The board has approved amendments to the company's Articles of Association pursuant to Sections 5 and 14 of the Companies Act, 2013. These amendments incorporate specific clauses related to the issuance of non-convertible and convertible securities, including convertible warrants, along with clarificatory amendments pertaining to further issue of securities.

Shareholding Impact Analysis

The preferential issue will significantly impact the promoter's shareholding pattern in the company. Twin Star Overseas Limited's stake will increase from the current 42.90% to 47.75% on a fully diluted basis post-allotment.

Extraordinary General Meeting Convening

To obtain shareholder approval for the aforementioned matters, the board has decided to convene an Extraordinary General Meeting on March 4, 2026. The EGM will be conducted through video conferencing and other audio-visual means, ensuring broader shareholder participation.

The notice for the EGM will be sent separately to stock exchanges and shareholders, and will be made available on the company's website. All proposed securities issuances remain subject to obtaining requisite approvals from regulatory and statutory authorities, along with shareholder consent at the upcoming EGM.

Sterlite Technologies Limited has issued a formal clarification to BSE Limited regarding significant movement in its share price, responding to an exchange inquiry dated February 02, 2026. The company addressed concerns about price volatility through a regulatory filing on February 03, 2026.

Regulatory Compliance Confirmation

The company confirmed its adherence to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 30. Sterlite Technologies stated that it has consistently made all necessary disclosures to stock exchanges regarding events and information that could impact its operations and performance.

Price Sensitive Information Disclosure

The company explicitly confirmed that it is not aware of any unpublished price sensitive information that could influence share price or volume behavior. Sterlite Technologies emphasized that all required disclosures under Regulation 30 have been communicated to stock exchanges within the prescribed timelines.

Corporate Governance

The clarification was signed by Mrunal Asawadekar, Company Secretary and Compliance Officer (Membership No.: A 24346), demonstrating proper corporate governance protocols. The document was digitally signed on February 03, 2026, at 10:36:32 +05'30', ensuring authenticity and compliance with digital documentation requirements.

This regulatory response reflects the company's commitment to transparency and adherence to stock exchange guidelines regarding price movement clarifications.