Sterlite Technologies (STL) has completed the demerger of its Global Services Business into STL Networks under the ‘Invenia’ brand. This move aligns with STL’s strategy to create two specialized, independently growing entities. Mr. Pankaj Malik will serve as CEO of STL Networks.
Apr 1, 2025
Sterlite Technologies (STL), a leading optical and digital solutions company, has successfully 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.
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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, blending the spirit of nation-building and building digital infrastructure. The company has deployed over 1.35 lakh km of optical fibre network 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, enabling 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.
In terms of leadership roles, Mr. Rahul Puri will lead as the CEO of Optical Networking Business at STL, and Mr. Pankaj Malik will be the CEO of STL Networks.
The demerged entity STL Networks, with its expertise in large-scale deployments, will further strengthen its portfolio in the global digital infrastructure and services space that will enable enterprises, telecom companies, cloud service providers, government, and defense.
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The recently awarded Bharatnet project worth approximately INR 2631.14 crore in Jammu and Kashmir will be part of STL Networks post-demerger. The demerger is anticipated to drive profitability, enhance operational efficiency, and provide a more compelling investment opportunity for shareholders.
Commenting on the demerger, Ankit Agarwal, Managing Director of STL, said, “The completion of this demerger marks a pivotal moment in our strategic roadmap. This transition empowers STL and STL Networks to operate with greater focus, agility, and independence, creating exceptional value for all stakeholders. STL remains committed to pioneering optical solutions and driving customer-centricity, while STL Networks is now uniquely positioned to redefine global services with agility. This new structure will drive sustained growth, operational efficiency, and shareholder returns for both entities.”.
