Sterlite Technologies updates on demerger of its Power Business into Sterlite Power Transmission

Updates on merger of Elitecore Technologies into Sterlite Technologies

Sterlite Technologies announced the demerger effective from the appointed date of 01 April 2015 of its Power Business into Sterlite Power Transmission. The Demerger Scheme was earlier approved by the High Court of Mumbai on 22 April 2016 post approval by all relevant stakeholders of Sterlite Tech on 15 December 2015.

The Company also announced completion of Elitecore Technologies' merger, which is a global provider of Operation Support Service (OSS) & Business Support Service (BSS) solution. Its pre-integrated platform has the capability to monetise all IP networks including 3G/LTE, Wi-Fi, Cable, ADSL, FTTH. Sterlite Tech had acquired Elitecore Technologies in 2015. The merger of Elitecore into Sterlite Tech will allow for seamless integration of two companies leading to stronger customer offerings as one -telecom entity.

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