Sterlite Technologies Ltd

• Company to hold EGM on March 4, 2026 via video conferencing. • Proposal to amend Articles of Association for flexible securities issuance. • Plan to issue up to 453 million warrants at ₹110 each on preferential basis. • Warrants convertible to equity shares with specific lock-in and conditions.

📢 Overview of the Extra-Ordinary General Meeting (EGM)

• The company will hold an EGM on March 4, 2026, using video conferencing so shareholders can join remotely.

📜 Amendments to Company Rules

• Shareholders will vote on changes to the company’s Articles of Association.
• These changes let the Board issue many types of securities, like ordinary shares, preference shares, warrants, and convertible securities.
• This provides more options to raise money or reward stakeholders.

📈 Large Warrant Issue Planned

• The company intends to issue up to 453 million warrants priced ₹110 each.
• The total value of this issuance is about ₹4983 crore.
• Warrants will be given to a promoter entity, Twin Star Overseas Limited.
• Each warrant can be converted into one share at a face value of ₹2 plus a premium of ₹108.

💡 Warrant Terms Explained

• A minimum 25% payment is required when the warrant is allotted; the rest 75% is paid when converting the warrant into shares.
• Warrants must be converted within 18 months or they expire and money paid is forfeited.
• Shares issued on conversion will be equal to current shares in rights and dividends.
• Warrants don’t have voting rights until converted.
• The price is fixed based on regulatory guidelines and a recent "Relevant Date" for pricing (Feb 2, 2026).
• Shares will be locked in for a certain period per SEBI rules.

📢 Additional Meeting Details

• Shareholders can vote electronically before and during the meeting.
• Shareholders holding physical shares are encouraged to convert to electronic form and update their details.
• Documents related to the meeting will be available online.

🧐 What This Means for Investors

• The company is raising a large amount of capital by issuing warrants to promoters.
• The changes allow more flexibility in methods of capital raising.
• Existing investors should note potential dilution and shareholding changes once warrants convert.
• The process has been designed to be accessible and transparent for shareholders.
• Investors new to these terms: An Extra-Ordinary General Meeting is a special meeting to agree on important company matters. Warrants are options to buy shares later at a set price. Preferential issue means shares are allocated to selected investors.