Board of Sterlite Technologies approves fund raising of up to Rs 1000 cr

At its meeting held on 23 April 2019

The Board of Sterlite Technologies at its meeting held on 23 April 2019 has approved the following -

Enabling approval for issue of Non Convertible Debentures of up to Rs 1000 crore.

Subject to the approval of the shareholders of the Company at the ensuing the AGM, and subject to such regulatory/statutory approvals as may be required, raising of funds, inter alia, by issue of equity shares, any financial instruments and/or security convertible into-equity shares, combination of such securities by way of one or more public and/or private offerings, qualified institutions placement and/or preferential allotment basis and/or rights offering or any combination thereof or any other method in accordance with the provisions of applicable laws, for an aggregate consideration of up to Rs. 1000 crore.

It is clarified that this is only an annual enabling approval and there is no immediate plan to raise funds. The objective is that this proposal will go to the shareholders at the AGM for approval.

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