Tag Ankit Agarwal

COLUMBIA, S.C., July 13, 2024 — STL, a leading optical and digital solutions company announced that it has achieved a significant milestone towards its Global Services Business (GSB) demerger, receiving approval from its shareholders, including secured and unsecured creditors. The approval paves the way for shares of the new business to be listed separately.

At the National Company Law Tribunal (NCLT) convened meetings held on 10 July 2024, the demerger proposal received 100% approval from both secured and unsecured creditors and 99.98% from equity shareholders through the voting process. The voting results reflected a resounding confidence in STL’s growth potential and value creation.

STL’s Global Services Business has brought substantial value to its customers over the past decade. With its automation-led digital ecosystem creation capability, the business has been making significant strides in India and the UK. It has been a major part of India’s digital growth story, blending the spirit of nation-building and digital infrastructure creation with automation. Over 1.35 lakh km of Optical Fibre network have been deployed across the country in 23 states, positioning STL as a trusted partner for delivering critical Optical solutions.

The demerger will enable both businesses—STL and the new Global Services entity—to grow independently with more agility and focus, creating strong, distinct platforms for achieving their goals. This will also bring more value for investors and strategic partners having a specific interest in the Global Services Business.

No economic interest of any shareholder of the Demerged Company would change post-demerger. The process of getting approval from the NCLT will be completed in an indicative timeline of 2-3 months.

Ankit Agarwal, Managing Director of STL, said, “We are thankful to our shareholders and creditors for their continued support. Achieving these approvals for the demerger is a pivotal milestone. This reflects their strong belief in our strategic vision and growth potential. This demerger will lead to better alignment of the respective businesses with their customers and improve competitiveness and operational efficiencies. This will strengthen their position in the relevant marketplaces, resulting in more sustainable long-term growth.”

National, 1st MARCH 2024: Gatorade®, PepsiCo India’s iconic hydration brand, has introduced its ‘Turf Finder’ initiative aimed at promoting the love and will for playing sports, amidst the hustle and bustle of India’s metropolitan areas, in partnership with Leo Burnett India. Gatorade® seeks to inspire young individuals to embrace physical activity as a key part of their daily lives.

Addressing the scarcity of recreational space in urban India, Gatorade®’s ‘Turf Finder’ initiative is committed to finding us places to play, wherever and whenever space permits in the city. Utilizing historical maps data, Gatorade® will pinpoint appropriate locations, including vacant parking lots or empty streets, and transform them into accessible playing areas for citizens across India’s metropolitan cities. The first Turf will be launched in Mumbai, with successive releases planned for other metropolitan cities, including Bengaluru.

To launch the initiative, Gatorade® has released a compelling film that depicts the chaotic and fast-paced lifestyle of city dwellers. Amidst the frenzy of bustling schedules and cramped quarters, the film delivers a powerful reminder, that all one needs is the will to play and we will find them the space. Gatorade® is leading the charge by showing us how these spaces can be used to embrace an active lifestyle.

Speaking on the initiative, Ankit Agarwal, Associate Director, Energy & Hydration, PepsiCo India, said, “Gatorade has consistently championed the importance of fitness and an active lifestyle as integral components of well-being. However, in today’s fast-paced and chaotic society, finding both time and a suitable space for physical activity poses a significant challenge. We firmly believe that this initiative will make sport accessible to a lot more people, thereby cultivating a healthier lifestyle. By providing convenient and inviting spaces for play, we hope to inspire communities to embrace the intrinsic value of staying active amidst the demands of modern life.”

Adding further, Rajdeepak Das, CCO, Publicis Groupe – South Asia & Chairman, Leo Burnett – South Asia, said, “This is a true HumanKind idea where we are using technology to find solutions for modern day problems. Our cities are temporal in nature, they behave different by day and different by night. We have validated this spirit and used historic Google map data to find empty spaces at specific times which can be made into a turf. The most exciting part is that this campaign can be scaled across the country and not only promote an active lifestyle but also make a cultural impact in communities making sport an equalizer.”

Gatorade®’s new initiative will be amplified through a 360-degree campaign across digital, outdoor, and social media. Gatorade® is available in 3 variants – Blue Bolt, Orange, and Lemon .