Sterlite Technologies completes demerger of Global Services Business 

Sterlite Technologies Limited (STL) announced today the successful completion of the demerger of its Global Services Business. The services business will now operate as STL Networks Limited under the brand name “Invenia”.

The shares of Sterlite Technologies Limited (STL) were trading at ₹84.99, up by ₹4.07 or 5.03 per cent on the NSE at 1 pm.

The strategic move creates two specialized entities aimed at accelerating growth in their respective sectors. STL will continue to focus on optical networking with operations spanning 10+ global manufacturing plants and a customer base in over 100 countries, while STL Networks will concentrate on digital infrastructure and services for enterprises, telecom companies, cloud providers, and government sectors.

The demerger is expected to enhance operational efficiency and profitability for both companies. Rahul Puri has been appointed CEO of the Optical Networking Business at STL, while Pankaj Malik will lead STL Networks as CEO.

STL Networks brings significant experience to the market, having deployed over 135,000 km of optical fiber networks across 23 states in India. The company will take over the recently awarded ₹2,600 crore Bharatnet project in Jammu and Kashmir.

Ankit Agarwal, Managing Director of STL, described the demerger as “a pivotal moment” that would allow both entities to operate with “greater focus, agility, and independence” while creating value for stakeholders.