Sterlite Electric, earlier known as Sterlite Power Transmission, part of the Vedanta Group, has filed its draft red herring prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company is looking to raise between Rs ,1400 crore to Rs ,1500 crore, sources said.
The IPO comprises a fresh issue of 7.79 million equity shares and an offer for sale of up to 7.79 million equity shares, aggregating to a total of up to 15.5 million equity shares.
IPO structure and utilisation of funds
The company’s promoters are Anil Agarwal and Twin Star Overseas, who will also participate in the offer for sale along with other shareholders, sources said . The company plans to utilise net proceeds from the fresh issue towards repayment or prepayment of debt, funding capital expenditure requirements and general corporate purposes.
Sterlite Electric is a manufacturer of capital goods and a provider of system integration solutions, specializing in the power transmission and distribution industry for both domestic and international markets.
Market position and global footprint
In FY 2025, the company held a 15% share of the Indian power conductors’ market in terms of value, and a 25–28% share of the high ampacity and AL59 conductor market in India, also in terms of value.
It has catered to customers in more than 70 countries, including the USA, Brazil, Sweden, South Africa, Egypt, UAE, Chile, and Peru. Revenue from external customers outside India (continuing operations), reported under Ind AS 108 ‘Operating Segments,’ amounted to Rs 1000 crore , ₹1657.6 crore, and Rs 1180 crore in FY 25, FY 24, and FY23, respectively.