Sterlite Technologies Limited has issued a Postal Ballot Notice seeking shareholder approval to raise funds up to ₹2,000 Crores. The company proposes to utilize Qualified Institutional Placements (QIP), External Commercial Borrowings (ECBs), Foreign Currency Convertible Bonds (FCCBs), American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), and convertible preference shares for this purpose. The resolution requires consent under Section 62 of the Companies Act, 2013.

Postal Ballot Agenda

The special resolution seeks authorization to create, offer, issue, and allot various securities in one or more tranches. The aggregate consideration for the proposed issue is capped at ₹2,000 Crores (inclusive of premium). The instruments may be denominated in Indian Rupees or foreign currencies, depending on the mode of issuance and prevailing market conditions.

Record Date and E-Voting Schedule

The Postal Ballot Notice was dispatched electronically to members whose names appeared in the Register of Members or Register of Beneficial Owners as on the cut-off date of Friday, May 8, 2026. The company has engaged M/s Kfin Technologies Limited as the Registrar and Transfer Agent to facilitate the remote e-voting process.

Voting rights are proportionate to the shares held by members as on the cut-off date. The e-voting facility will be disabled after the deadline, and no votes will be accepted thereafter.

Scrutinizer and Process

Mr. B. Narasimhan, Practicing Company Secretary, has been appointed as the Scrutinizer to ensure the electronic voting process is conducted fairly. The Scrutinizer will submit a report to the Chairman by June 18, 2026, following which the results will be declared. The outcome will be filed with the stock exchanges and hosted on the company’s website.

Utilization of Proceeds

The net proceeds from the issue are intended to support strategic objectives including capital expenditure for expansion, repayment of borrowings, funding organic and inorganic growth opportunities, and general corporate purposes. The funds may also be used for acquisitions and strengthening operational capabilities.

The Hon'ble High Court of Delhi has dismissed the petition filed to set aside an arbitral award dated 9th May 2023 against Bharat Sanchar Nigam Limited (BSNL). Sterlite Technologies Limited disclosed this development to stock exchanges on May 13, 2026, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Background of the Legal Matter

The dismissed petition relates to the Global Services Business, which was previously part of Sterlite Technologies Limited. The arbitral award at the centre of this legal proceeding was originally dated 9th May 2023 and involved Bharat Sanchar Nigam Limited as the opposing party.

Demerger and Transfer of Liability

Following a Scheme of Arrangement approved by the Hon'ble National Company Law Tribunal (NCLT), Mumbai, the Global Services Business of Sterlite Technologies Limited has been demerged into STL Networks Limited. The key details of this corporate restructuring are outlined below:

As a result of this demerger, any contingent liability arising from the dismissed petition and the underlying arbitral award now pertains to STL Networks Limited and not to Sterlite Technologies Limited.

Regulatory Disclosures by STL Networks Limited

STL Networks Limited has filed the requisite disclosure in this regard pursuant to SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2 / I / 3762 / 2026 dated January 30, 2026, on BSE Limited and National Stock Exchange of India Limited on May 12, 2026.

The disclosure on behalf of Sterlite Technologies Limited was signed by Mrunal Asawadekar, Company Secretary & Compliance Officer (Membership No.: ACS 24346), and submitted to both the National Stock Exchange of India Limited and BSE Limited on May 13, 2026.