- The company was originally incorporated as Rainbow Investments Ltd.
on 8th September. The Company Manufacture and deals in electrical
wires and cables of all kinds.
- The name was changed to Sterlite Cables, Ltd. on 19th October, and
the Company undertook the manufacture of cables, conductors and
enamelled copper wires at its factories in Mumbai and Pune.
- 2,10,000 shares issued without payment in cash to the retiring
partners of a partnership firm in which the Company was also a
- On 28th February, the name of the Company was changed to Sterlite
Industries (India), Ltd. and a fresh Certificate of Incorporation to
this effect was obtained from the Registrar of Companies,
Maharashtra. The Company was promoted by Anil Kumar Agarwal, Dwarka
and Ishwarlal Patwari.
- A technical collaboration agreement, approved by the Government of
India, with M/s. Essex Group Inc, a division of United Technologies,
U.S.A., provides for the technical information, know-how and
knowledge relating to the manufacture of telephone cables for a
period of five
- The Company undertook a project to set up a continuous cost and
rolled non-ferrous rods unit at Taxwe Khurd near Lonawala with the
technical assistance of M/s. Continuus, SpA, Italy and M/s. La Farga
Lacambra Sa, Spain. The unit was commissioned during 1989-90.
- The Company issued 1,25,000 - 13.5% secured fully convertible
debentures of Rs 175 each for cash out of which the following
debentures were reserved for preferrential allotment (i) 6,250
debentures to employees, etc. (ii) 31,250 debentures to non-resident
Indians on repatriation basis. The balance 87,500 debentures, along
with the unsubscribed portion of 6,010 debentures out of the
employees preferential quota were offered for public subscription
during February 1988. Additional 18,750 debentures were allotted to
- Each debenture of Rs 175 was compulsorily converted into 5 fully
paid-up equity shares of Rs 10 each at a premium of Rs 25 per share
after six months from the date of allotment of debentures.
- The Company privately placed with UTI 2,00,000 - 14%
non-convertible debentures of Rs 100 each. These debentures are
redeemable at a premium of Rs 5% in five equal annual instalments
commencing at the end of fifth year from the date of allotment, i.e.
23rd February, 1989.
- `Vision Finance & Leasing Ltd.' became a wholly owned subsidiary of
- During February, the Company issued 4,55,000 No. of equity shares
of Rs 10 each at a premium of Rs 25 per share to partly meet the cost
of JFTC project, to meet the long term working capital needs for the
then existing operations and to enlist the shares of the Company.
- 7,18,750 shares issued (prem. Rs 25 per share) on conversion of
debentures issued in February, 1988.
- The Company's XLPE Cable Unit and PVC insulated Power and Control
cable unit were modernised with the technical assistance of Johan
Royle & Sons, U.S.A.
- 8,50,000 - 13.5% fully convertible debentures of Rs 140 each for Rs
11.90 crores as follows:
- (i) 4,65,000 debentures to the existing equity shareholders
(including non-resident Indians) as rights in proportion one
debenture for every five equity shares held
- (ii) 3,85,000 debentures to the public out of which 42,500
debentures were offered on a preferential basis to employees, etc. of
the Company. Only 40,600 debentures were taken up by the employees.
The unsubscribed 1,900 debentures belonging to the employee's quota
were added back to the public offer. Additional 1,27,500 debentures
were allotted to retain oversubscription (69,750 debentures to the
equity shareholders and 57,750 debentures to the public).
- Pursuant to the terms of the issue, 10,75,250 No. of equity shares
were issued at the end of 18 months from the date of allotment i.e.
on 7th September, 1990.
- The Company diversified its activities by undertaking the
manufacture of Jelly-filled telecommunication cables (JFTC) with an
installed capacity of 6.25 lakh CKM.
- The overhead power transmission conductor units capacity was raised
to 6,000 TPA and that of PIJF plant, for manufacture of foam skin
insulated telecables, to 12 lakh ckm.
- The Company proposed to set up a copper smelter project in
technical collaboration with MIM Holdings Ltd., Australia with a
capacity of 60,000 TPA at Ratnagiri, Maharashtra.
- The Company proposed to increase the capacity of telecommunication
cable division to 15 lakh CKM and that of continuous cart copper rod
division to 30,000 TPA with technical assistance from Asarco Inc.
- During January, the Company issued 6,10,000 - 13.5% secured
redeemable partly convertible debentures of Rs 250 each of which
85,000 debentures were reserved for preferential allotment to
employees/workers of the Company. The Balance 5,25,000 debentures,
were offered for public subscription. Additional 91,500 debentures
allotted to retain oversubscription.
- 10,90,000 - 13.5% secured redeemable partly convertible debentures
of Rs 250 each were offered to equity shareholders on rights basis
in the ratio of one debenture for every four equity share held.
Additional 1,63,500 debentures were allotted to retain
- As per the terms of issue, part - `A' and part `B' of Rs 90/- each
will be converted into one equity share of Rs 10 each at a premium of
Rs 80/- per share at the end of six months and 12 months respectively
from the date of allotment of debentures. The balance Rs 70 of each
debenture will be red eemed at par in two equal instalments of Rs 35
each at the end of 7th and 8th year respectively from the date of
- 39,10,000 No. of equity shares issued (prem. 80 per share) on
conversion of debentures of Rs 250 each.
- The company proposed to set up a phosphoric acid plant with a
capacity of 1,00,000 TPA with technology from Hydro Agri, U.K.
- The Company had set up an additional plant for manufacture of Jelly
filled cables with an installed capacity of 15 lakh CKM and the total
capacity was raised to 33 lakh CKM. The Company also set up a new
plant with an annual capacity of 40,000 FKM at Aurangabad to
manufacture optical fibre cables.
- 66,15,284 Bonus shares issued in prop. 4:5.
1993 - The Company commissioned a new plant at Silvassa for
manufacture of Jelly filled cables with an installed capacity of 20
lakh CKM. The capacity of the Aluminium sheets and foils plant was
proposed to be expanded to 60,000 MTs.
- During January/February, the Company issued 33,07,650 - 16.5%
secured redeemable non-convertible debentures (NCD) of Rs 450 each
with detachable warrants to the existing equity shareholders on right
basis in the ratio of 2 NCD for 5 equity shares held. (Only
debentures were taken up). These debentures are redeemable at par in
three equal instalments of Rs 150 each at the end of 7th, 8th and 9th
year respectively from the date of allotment.
- The Company issued 82,69,105 secured Zero Interest fully
convertible debentures of Rs 360 each to the existing equity
shareholders on right basis in the ratio of 1:1. Another 46,58,300
secured zero interest fully convertible debentures of Rs 350 each
were issued to the public
of which 10,32,000 debentures were reserved to the promoters, 20,000
debentures offered to employees, (only 5,700 debentures were taken
- 7,00,000 debentures offered to NRIs (only 3,84,900 debentures were
taken up) 2,00,000 debentures offered to FIIs (only 26,600 debentures
were taken up). Remaining 27,06,300 debentures offered to public.
(All were taken up including unsubscribed portion from employees,
NRIs and FIIs).
- The debentures were convertible into two equity shares of Rs 10
each at a premium of Rs 170 per share at the end of 18 months from
the date of allotment.
- During December, the company issued US 0,000,000 - 3 1/2%
convertible bonds due 1999 convertible into GDRs (the Bonds) at an
issue price of 100 per cent. The bonds issued to be in denominations
of US 00.
- 25,480 No. of equity shares allotted on conversion of 3.5% Euro
- 68,800 No. of equity shares were allotted upon conversion of
certain foreign currency convertible bonds into GDRs (246 bonds
converted at a conversion price of Rs 561.07.
- Another 15,680 No. of equity shares were allotted to conversion of
56 bonds into GDRs on 30.9.1994. On 31.10.1994, 1,50,360 No. of
equity shares were allotted in conversion of 537 bonds.
- 2,60,89,730 shares allotted on conversion of Euro Convertible
- 31,78,725 shares issued according to the scheme of amalgamation.
- Sterlite communciations limited merged with the company w.e.f 1st
April. In accordance with the scheme of Amalgamation, 1 equity share
of Rs 10 was allotted to every shareholder of the erstwhile sterlite
communciations limited for every 4 equity shares held.
- The Company proposed to construct a new greenfield aluminium
smelter alongwith associated Captive Power Plant in Orissa. The
technical collaboration and technology license agreement was signed
with Aluminium Pechiney (AP), France for the latest AP 30
- The Company undertook another project to manufacture Aluminium
alloy rolling sheets and foils.
- The controversy-dogged Rs.1,000-crore copper smelting plant set up
by Sterlite Industries in Tuticorin, Tamil Nadu, has received a clean
chit from the three member independent committee set up by the Tamil
Nadu government to look into the environmental fallout of the
- Sterlite is setting up a plant to manufacture blister copper and
allied materials and work is progressing in two phases.
- The Sterlite Industries here will set up a desalination plant to
purify 45 lakh litres of water per day, needed for the copper
- Sterlite Industries (India) Ltd. has agreed to make an open offer
of 20 per cent for acquiring shares in Indian Aluminium Co. Ltd.
- Sterlite Industries Limited, the Mumbai-based cable manufacturing
company, which had made a public offer to acquire 20 per cent of
Indal shares, is legally required to obtain RBI clearance for
financing the acquisition cost.
- Sterlite Industries (India) Ltd. will accept all the shares of
Indian Aluminium Co. Ltd. (Indal) received by it in response to its
open offer to acquire 52.03 per cent stake in Indal.
- Phosphoric acid plant of Sterlite Industries has remained shut for
over six months, at the company's Tuticorin complex. The plant was
set up as a downstream facility that would make use of the sulphuric
acid produced by Sterlite's copper smelter plant.
- Sterlite Industries (India) Ltd's ambitious greenfield aluminium
smelter will have a capacity of 1,25,000 tonnes in the first phase.
- 10% Non-Convertible Red. Cum. Pref. shares redeemable at par on the
expiry of 3 years from the date of allotment i.e. 30th June, 1999.
- SIL has entered into a memorandum of understanding (MoU) with the
State Government 30,000 tonne capacity Mount Lyell copper mine, one
of the low cost copper mine. This would ensure long term supply of
- Sterlite Industries Ltd will implement its proposed Rs 3,400-crore
one-million tonne greenfield aluminium project in Orissa through a
joint venture company rather than going it alone.
- The company has approved allotment of 90,00,000 No. of equity
shares of Rs 10/- each at a premium of Rs 171/- per shares
aggregating to Rs 162.90 crores in accordance with the SEBI
Guidelines on preferential allotment of shares dated 05.08.1994
against exercise of the warrants
issued by the company in June '98.
- Copper and cable major, Sterlite Industries and telecom
multinational Alcatel have joined hands to provide telecom networking
solutions in India.
- Pursuant to the Scheme of Arranagement, the telecommunication
business of the company has been demerged into a separate company
-Sterlite Optical Technologies Limited with effect from July 01. The
Company has proposed to issue shares in its demerged telecom business
at a ratio of 1:1 to all its existing shareholders.
- The Company is set to acquire two copper mines in Australia.
- Sterlite Industries Ltd hive off is power transmission the
aluminium conductor division into a wholly owned subsidiary of the
- The Cabinet committee on disinvestment approved sale of 51 per cent
of government equity in Bharat Aluminium Company to Sterlite
Industries Ltd for a sum of rs 551.5 crore.
- After bagging a 51 per cent stake in Bharat Aluminium Company,
Sterlite Industries may now explore the possibility of hiving off its
aluminium business into a separate company.
- The Company allotted 79,996 No. of equity shares on exercise of
options by employees as per the ESOP scheme.
- Copper majors Sterlite Industries, Indo Gulf Industries and SWIL
Ltd have come together to promote copper consumption in the country
through increased use of the metal in new areas such as motors,
house-wiring, electricity transformers and plumbing.
- Sterlite Industries (India) Ltd has reported a 32 per cent decline
in net profit at Rs 23.97 crore (Rs 35.49 crore) in the first quarter
ended September 30, 2001.
-Sterlite Industries India Ltd has informed that Mr Somnath Patil CFO
& Company Secretary has resigned from the company at the close of
business hours on June 30, 2002.Mr S S Krishnan has been appointed as
Head Legal & Secretarial wef July 01, 2002. He shall also act as a
compliance officer of the company.
-Birla Copper and Sterlite Industries secured LME(London Metal
Exchange) registration, both companies' copper cathodes have been
ratified as Grade A copper brands.
-Mr.A.S Khandwala has been appointed as Company Secretary and
of the Sterlite Industries Ltd.
-Naveen Patnaik, Chief Minister of Orissa laid the foundation stone
of the proposed Rs.4000cr
bauxite mining and alumina refinery project of the Sterlite
-Income Tax Department filed a petition against Sterlite Industries
proposed hive off as it has
attached 54% of the company's shareholding belonging to Twin Star
-SEBI has directed Sterlite Industries and its two partner firms to
pay interest NRI's, OCB's and
FII's for holding payment to them to buy out of Hindustan Zinc Ltd.
-Sterlite, Essar and Videocon have tied up the confidential
memorandum to buy the governments stake in SCI.
-Mr Navin Agarwal has been appointed as Whole Time Director of the
company for a period
of five years on the board of the company.
-Mr.C.V Krishnan CEO(Metals) of Sterlite group has expressed his
desire to work for a social
-Mr Madan Gopal Pachisia who was a Director on the Board of Directors
of the company expired on November 12, 2003.
-Anil Agarwal, chairman of the company, climbed to 8th position in
the Business Standard Billionaire rankings from 17th
-The issue of bonus shares in the ratio of 1 new share for every 1
- A rights issue in the ratio of 3 new shares for every 10 existing
shares of the expanded share capital to raise at least Rs. 14,000
million. A committee of directors will decide the rights issue price
keeping in view the then prevailing market price.
- Twinstar Holdings, a subsidiary of Vedanta Resources, has
increased its holdings in Sterlite Industries India (SIIL)by 2.4% to
- Sterlite Industries ties up with Brazil co, mulls set up plant in
-Sterlite Industries inks deal with Escondida mine
- Expansion of Tuticorin Smelter to 300,000 TPA and Successful ramp
up of ISA furnace in a record period of 45 days.
- Sterlite Industries receives permission to operate copper smelter
plant at Tuticorin.
- Expansion on Tuticorin smelter to 400 KTPA through innovative
- Sterlite Industries India Ltd will be stepping into commercial
energy business by setting up a 2,400 MW green field power plant in
Jharsuguda, Orissa, involving an investment of .9 billion. The
power business will be operated through Sterlite Energy Ltd, a wholly
owned subsidiary of Sterlite Industries India Ltd, belonging to
-Sterlite Industries (India) has given the Bonus in the Ratio of 1:1
-Company has splits its Face value of Shares from Rs 5 to Rs 2
- Sterlite Industries primary listing on NYSE in June 2007
- Sterlite Industries has commenced distribution of the preliminary
prospectus in anticipation of a global offering of 125 million of its
equity shares in the form of American Depositary Shares, or ADS. These
equity shares in the form of ADSs will represent an approximately
18.3% interest in Sterlite post-offering. The Company has applied to
have its ADSs listed on the New York Stock Exchange under the symbol
-Registered Office of the Company has been shifted To SIPCOT
Industrial Complex, Madurai Bypass Road, TV Puram P.O, Tuticorin -
628 002, Tamilnadu, India.
- Sterlite Industries (India) Ltd has signed a definitive Agreement
to purchase substantially all the operating assets of ASARCO, LLC,
the third largest copper producer in the United States of America.
- Sterlite Industries (India) Ltd (SIIL), a subsidiary of the London
listed FTSE 100 diversified metals and mining company, Vedanta
Resources Plc, has got the Golden Peacock Environment Award - 2008
from World Environment Foundation.
- Sterlite Industries (India) Ltd (SIIL) has got the Golden Peacock
Environment Award - 2008 from World Environment Foundation, selected
by the jury chaired by Mr Justice P. N. Bhagwati, former Chief
Justice of India and Member, UN Human Rights Commission. Out of 70
companies that took part for various awards, 19 companies were chose
for the awards under various categories and Sterlite was announced as
winner in the Non Ferrous Category.
- Sterlite Industries India Ltd has informed that the Board of
Directors of the Company at its meeting held on December 24, 2008,
appointed Mr. D D Jalan as an additional director of the Company.
- CII-ITC Sustainability Award 2008 - Certificate of Commendation for
Strong Commitment to excel for Sterlite
- India Manufacturing Excellence Award 2008 - Corporate Super
Platinum Award for Sterlite
- SIIL got Outstanding Export Oriented unit Award
- Sterlite Signs New Agreement to Purchase Operating Assets of ASAROC
- Sterlite Industries (India) Ltd. Announces Copper Expansion Project
with 160 MW CPP at Tuticorin India.
- Sterlite Inds - Sterlite Announces Successful Boiler Light-up Of
First 600 MW Unit of its 2400MW Power Plant at Jharsuguda, Orissa
- Sterlite Industries (India) Ltd - Sterlite Industries (India) Ltd
through its wholly owned subsidiary M/s. Sterlite Infra Ltd. has
acquired 100% stake in Namibian Skorpian Mines from Anglo American
- Confederation of Indian Industry Excellence award in energy
management: Energy efficient unit award
- American Society for Quality: International Team Excellence Awards:
Finalist award in team excellence
- India Manufacturing Excellence Awards: Corporate Platinum and
- Indian National Suggestions' Scheme Association: Special and Merit
awards for innovation and creativity
-Sterlite Industries has given the Bonus in the Ratio of 1:1
-Company has splits its Face value of Shares from Rs 2 to Re 1
- Sterlite Technologies, the leading global provider of connectivity
solutions for power and telecom industries, has bagged two contracts
worth Rs 225 crore from Power Grid Corporation of India (PGCIL) for
manufacturing and supplying of power conductors.
- Sterlite Industries (India) Ltd won Arbitration Award in relation
to the purchase of 49% equity stake of Bharat Aluminium Company
Limited (BALCO) by Sterlite Industries (India) Limited from the
Government of India.
- Sterlite commissioned Rs. 675 crore coal berth at Vizag
- Sterlite Industries (India) Limited announced Completion of the
Acquisition of Black Mountain Mines in South Africa.
- Sterlite Industries (India) Ltd announced Completion of Acquisition
of Lisheen Mine in Ireland
- High Court of Madras has approved the Scheme of Amalgamation of
Sterlite Opportunities and Ventures Limited (SOVL) with Sterlite
Industries (India) Limited (SIIL) and their respective Shareholders
(Scheme) under Section 391 to 394 of the Companies Act.
- Sterlite Industries (India) Limited 80 MW CPP at Tuticorin
- India Ratings has assigned an expected rating of IND AA+ to
Sterlite Industries India Limited (SIIL) Rs 5 billion proposed
non-convertible debenture (NCD) programme, reflecting its strong
business profile as also seen in its EBITDA of USD 2.1 billion in FY
- Vedanta Group's flagship firm, Sterlite Industries lost the legal
battle in US bankruptcy court against the copper miner Asarco, while
being directed by the court to pay USD 82.75 million to Asarco. The
battle started in 2010, when American company sued Sterlite for
stepping back from the deal to acquire Asarco.
- Hoping to see some appreciable development in Sterlite Industries,
Morgan Stanley upgraded the company's stock to overweight from
neutral earlier. Additionally, it also raised its target price to Rs
142 from Rs 110.20.