Sterlite Technologies demerges power biz, eyes pure-play telecom tag
"The demerger scheme was earlier approved by the High Court of Mumbai on April 22, 2016, post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015," Sterlite Technologies said in a Bombay Stock Exchange (BSE) filing.
"The demerger of power transmission business is a strategic decision that provides a well-deserved value-building opportunity for the telecom business," Sterlite Technologies said in a statement to BSE. Image Source: Reuters