Ownership of Sterlite Technologies Ltd (STL):

• Promoter Group:
  The primary owner of Sterlite Technologies is the promoter group, holding 44.16% of the company as of March 2025.
  • The largest promoter entity is Twin Star Overseas Ltd, which holds 42.92%.
  • The remaining promoter stake is held by members of the Agarwal family and related trusts.
• Other Shareholders:
  • Foreign Institutional Investors (FIIs): 7.28%
  • Domestic Institutional Investors (DIIs): 11.61%
  • Retail/Public Shareholding: 36.96%

Why is the promoter reducing their stake?

• Recent Trend:
  Over the past three years, the promoter holding has decreased by about 10 percentage points, from above 54% to 44.16% by March 2025. However, the reduction has been marginal in the most recent quarters (down by just 0.01% in the March 2025 quarter).
• Possible Reasons:
  • Funding Expansion:
    Disclosures indicate that some of the promoter stake reduction may have been to fund expansion and business needs.
  • Corporate Restructuring:
    The recent demerger of STL Networks Limited may have contributed to adjustments in shareholding patterns, as the company restructured its business into two separately listed entities.
  • Market Transactions:
    While there have been small recent purchases by individual promoter group members (e.g., Ankit Agarwal and Pravin Agarwal bought additional shares in June 2025), the overall trend over the past few years has been a gradual reduction, possibly to improve liquidity or meet regulatory/shareholding norms.
• No Major Pledging:
  As of March 2025, none of the promoter shares are pledged.

Summary Table: Ownership Structure (March 2025)

In summary:
Sterlite Technologies is primarily owned by the promoter group, led by Twin Star Overseas Ltd and the Agarwal family. The promoter stake has declined over recent years, likely due to a combination of funding expansion, business restructuring (demerger), and market-driven factors, but remains significant and unpledged.

Twin Star Overseas Ltd is a Mauritius-based holding company that serves as the principal promoter and largest shareholder of Sterlite Technologies Ltd (STL). It is legally registered at C/O IQ EQ Corporate Services (Mauritius) Ltd, Port Louis, Mauritius, and has been active since 2006. The company is managed by a board that includes Banymandhub Bhavana as a key principal. Twin Star Overseas Ltd is ultimately controlled by Anil Agarwal, the founder and chairman of Vedanta Resources, through his holding vehicle Volcan Investments.

The Agarwal Family
Anil Agarwal, born in Patna, Bihar, is a self-made billionaire industrialist and the architect behind the Vedanta Group, a globally diversified natural resources conglomerate. He began his business journey in the 1970s trading scrap metal and expanded into manufacturing with the creation of Sterlite Industries in 1986, which later became a core part of the Vedanta Group. Over the decades, Agarwal led major acquisitions in metals, mining, and resources, including Bharat Aluminium Company (BALCO), Hindustan Zinc Limited (HZL), and international assets.

Anil Agarwal is married to Kiran Agarwal and has two children: Agnivesh Agarwal, who serves as chairman of Hindustan Zinc, and Priya Agarwal, a PR professional. The family is known for significant philanthropic initiatives in education and healthcare through the Vedanta Foundation.

Role in Sterlite Technologies
Twin Star Overseas Ltd, as the promoter, holds a controlling stake in Sterlite Technologies, giving the Agarwal family substantial influence over the company’s strategy and governance. The promoter group has, at times, pledged shares to fund other group activities, such as the delisting of Vedanta Resources from the London Stock Exchange, but as of recent disclosures, all such pledges have been released.

Summary Table

In essence, Twin Star Overseas Ltd is the offshore vehicle through which the Agarwal family, led by Anil Agarwal, exercises control over Sterlite Technologies and other Vedanta Group companies.