STL Networks Limited has informed the Exchange regarding Notice of Postal Ballot
STLNETWORK · price
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STL Networks Limited is seeking shareholder approval via postal ballot for two special resolutions. First, altering the Articles of Association to enable issuance of various securities including convertible warrants. Second, issuing up to 4.5 crore warrants to promoter Twin Star Overseas Limited at Rs. 24 per warrant, totaling Rs. 108 crore. Each warrant is convertible into 1 equity share (face value Rs. 2 plus premium Rs. 22) within 18 months. The promoter will pay 25% (Rs. 27 crore) at allotment and remaining 75% (Rs. 81 crore) upon exercise. Voting period runs from April 20, 2026 to May 19, 2026.
If approved, this will result in significant dilution for existing shareholders as the promoter stake can increase substantially. The Rs. 108 crore capital raise provides funding but comes with dilution risk for minority shareholders.