Sterlite technologies has issued an addendum to its Extraordinary General Meeting (EGM) notice scheduled for March 04, 2026, following requests from stock exchanges for additional information regarding a preferential issue of convertible warrants.

EGM Details and Background

The EGM is scheduled to be held on Wednesday, March 04, 2026 at 10:30 A.M. (IST) through Video Conferencing (VC) and Other Audio Visual Means (OAVM). The original EGM notice was dispatched to members on February 09, 2026, covering the proposed issuance of warrants convertible into equity shares to Twin Star Overseas Limited, the company's promoter, on a preferential basis.

Stock Exchange Requirements

Pursuant to applications filed for obtaining in-principle approval from BSE Limited and the National Stock Exchange of India Limited under Regulation 28(1) of the SEBI Listing Regulations, the stock exchanges requested the company to provide certain clarifications and additional information regarding the preferential issue through an addendum to the EGM notice.

Key Updates in Addendum

The addendum covers two primary updates as requested by the stock exchanges:

Revised Valuation Report

The company has obtained a revised valuation report dated February 25, 2026, covering calculation of fair value per share under all three approaches:

• Asset Approach
• Income Approach
• Market Approach

The revised valuation report was issued by Mr. Aditya Chokhra, independent registered valuer (Registration No. – IBBI/RV/06/2020/12719). Importantly, there is no change in the floor price of Rs. 108.15 per warrant and issue price of Rs. 110.00 per warrant, which have been arrived at in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Revised Compliance Certificate

The company has obtained a revised certificate by practicing company secretary dated February 07, 2026, to align with the format prescribed by stock exchanges. The certificate includes confirmation that:

• Pre-preferential holding of the allottee is in dematerialized mode
• The proposed issue complies with the provisions of the company's Memorandum of Association
• The certificate format aligns with stock exchange specifications

The revised certificate was issued by Ms. Ashwini Inamdar, Practicing Company Secretary (FCS: 9409) and Partner of M/s. Mehta & Mehta, Company Secretaries (Firm Registration No. - P1996MH007500 and Peer review No. 3686/2023).

Document Availability and Integration

Both the revised valuation report and the practicing company secretary certificate are available on the company's website. The addendum is being sent through electronic mode to members whose email addresses are registered with the company, registrar and transfer agent, or depositories.

This addendum forms an integral part of the original EGM notice and should be read in conjunction with it. All other contents of the original notice remain unchanged. The addendum is also available on the website of Kfin Technologies Limited, the company's registrar and transfer agent.

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.