Sterlite Technologies completes demerger of its global services business

Sterlite Technologies has completed the demerger of its Global Services Business. The services business will transition from Sterlite Technologies (STL) to STL Networks under the brand name Invenia.' This milestone marks the culmination of a strategic initiative to create two specialised, future-ready organisations poised for accelerated growth.

STL's demerged entity (now STL Networks) has delivered substantial value to its customers over the past decade. With its capability to build large-scale, IT infrastructure-led digital ecosystems, the business has been making significant strides in India and the UK. It has played a pivotal role in India's digital growth story, blending the spirit of nation-building and digital infrastructure creation. Over 1.35 lakh km of Optical Fibre network have been deployed nationwide in 23 states, positioning STL Networks as a trusted partner for delivering critical connectivity solutions.

This demerger is aligned with the long-term strategy of creating two highly specialised entities. This demerger will enable STL and STL Networks'to grow independently with enhanced agility and sharper focus on their respective customer segments, creating strong, distinct platforms for future growth. This will also bring more value to investors and strategic partners with a specific interest in the services business. Both businesses will have dedicated leadership teams with proven track records, ensuring a smooth transition and continued success. Rahul Puri will lead as the CEO of Optical Networking Business at STL, and Pankaj Malik will be the CEO of STL Networks.