# Maithan Alloys Acquires 0.04% Stake in Sterlite Technologies for ₹19.97 Crore

> Maithan Alloys bought 228,000 Sterlite Technologies shares for ₹19.97 crore in cash on October 16, 2026.

- Published: 2026-10-17T08:11:29+00:00
- Section: Mergers & Acquisitions
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-17/maithan-alloys-sterlite-technologies-stake
- Source: [ScanX](https://scanx.trade/stock-market-news/companies/maithan-alloys-acquires-0-04-stake-sterlite-technologies-19-97-crore/53767808)

## Key takeaways

- Maithan Alloys acquired 228,000 shares, or 0.04% of Sterlite Technologies' equity, for ₹19.97 crore on October 16, 2026.
- The purchase was made through the stock exchange as cash consideration and disclosed under Regulation 30 of SEBI LODR Regulations, 2015.
- Sterlite Technologies reported FY26 turnover of ₹2,446 crore and profit after tax of ₹2 crore as of March 31, 2026.

Maithan Alloys acquired a 0.04% equity stake in Sterlite Technologies for ₹19.97 crore on October 16, 2026, buying 228,000 shares through the stock exchange as cash consideration. [ScanX](https://scanx.trade/stock-market-news/companies/maithan-alloys-acquires-0-04-stake-sterlite-technologies-19-97-crore/53767808) reported the disclosure, which was filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

## Maithan Alloys' Sterlite Technologies Purchase

[Maithan Alloys](https://akta.pro/company-profiles/003ekmf/maithan-alloys) is a publicly listed Indian manufacturer and exporter of niche value-added manganese alloys, including Ferro Manganese, Silicon Manganese and Ferro Silicon, serving steel producers globally. [STL](https://akta.pro/company-profiles/00026vv/stl) operates in the telecom equipment and accessories sector, manufacturing optical fibres, optical fibre cables, specialty cables and optical connectivity products across nine facilities in India, Italy, the United States of America and China.

Maithan Alloys said the shares were acquired to reap long-term and short-term investment benefits. The filing states that the company does not intend to acquire control, directly or indirectly, of the management of Sterlite Technologies. The transaction was executed at arm's length, does not fall within related party transactions, and no governmental or regulatory approvals were required for the shareholding increase.

Sterlite Technologies reported FY26 turnover of ₹2,446 crore and profit after tax of ₹2 crore as of March 31, 2026, with net worth of ₹1,526 crore. Its turnover was ₹3,952 crore in FY24, ₹2,215 crore in FY25 and ₹2,446 crore in FY26. STL's CTO Badri Gomatam said optical networks are essential for AI, citing record Q1 FY27 revenue of ₹1,910 crore and a USD 1.2 billion supply agreement with a hyperscaler, BW Disrupt reported.

## Maithan Alloys' Investment Record

According to akta.pro [company records](https://akta.pro/company-data), Maithan Alloys acquired equity shares of HFCL Ltd. in June 2026, a public-market financial investment separate from its operating subsidiaries. The company incorporated wholly owned subsidiary Maithan Capital Limited in December 2025 for diversification into capital and financial services, and Maithan Nutrition Private Limited in July 2025 for diversification into the nutrition and health sector. Maithan Electronics Private Limited was incorporated on January 27, 2026 for diversification into the electronics sector.

## Maithan Alloys' Recent Stake Purchases

Maithan Alloys acquired a 0.11% stake in ESDS Software Solution for ₹18.15 crore on October 8, 2026, via cash consideration for 1,28,155 shares, with no intent to gain control, ScanX reported. The company acquired a 0.17% equity stake in HFCL Limited for ₹60.09 crore on October 1, 2026, through the purchase of 25,27,000 shares, for portfolio benefits with no intent to acquire management control, ScanX reported. Maithan Alloys acquired a 0.06% stake in ESDS Software Solution on September 9, 2026, paying ₹10.83 crore for 75,160 shares, with no intent to acquire control, ScanX reported.

## STL's Data Centre Subsidiary

STL Networks incorporated STL Networks DC Limited on October 10, 2026 as a wholly owned subsidiary for data centre and telecom infrastructure, ScanX reported.

## Companies in this story

- [Maithan Alloys company profile](https://akta.pro/company-profiles/003ekmf/maithan-alloys) · website: http://www.maithanalloys.com
- [STL company profile](https://akta.pro/company-profiles/00026vv/stl) · website: https://www.stl.tech

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