Stock Exchange intimation for Postal Ballot notice
STLTECH · price
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Sterlite Technologies Limited is seeking shareholder approval via postal ballot for raising funds up to ₹2,000 Crores through multiple instruments including Qualified Institutional Placement (QIP), Foreign Currency Convertible Bonds (FCCBs), American Depository Receipts (ADRs), Global Depository Receipts (GDRs), and Convertible Preference Shares. The e-voting period runs from May 18, 2026 to June 16, 2026, with May 8, 2026 as the cut-off date for determining eligible voters. This is a Special Resolution requiring approval under Section 62 of the Companies Act, 2013. The Board already approved this proposal at its meeting held on January 23, 2026.
If approved, this resolution gives the Board flexibility to raise significant capital through various instruments, which may lead to share dilution for existing shareholders. The maximum ₹2,000 Crores limit represents a substantial capital raise that could be used for growth, debt repayment, or acquisitions.