Anil Agarwal-led Sterlite Power Transmission to raise ₹1,250 crore through IPO
- Sterlite Power Transmission is a private sector power transmission infrastructure developer and solutions provider operating in India and Brazil.
- The company has filed a draft red herring prospectus (DRHP) with the market regulator to raise ₹1,250 crore through IPO.
- Vedanta chairman and founder Anil Agarwal and Twin Star Overseas are promoters of the company.
AdvertisementSterlite Power Transmission has filed a draft red herring prospectus (DRHP) with the market regulator to launch an initial public offering (IPO) of ₹1,250 crore of fresh issue. It is a private sector power transmission infrastructure developer and solutions provider operating in India and Brazil.
The stock will be listed on both National Stock Exchange (NSE) and BSE.
The power transmission company is promoted by mining giant Vedanta’s billionaire founder Anil Agarwal and Twin Star Overseas.
The company believes that the power transmission industry in India has high growth potential. “The demand for electricity in densely populated Indian cities is expected to continue to rise as a result of end-use electrification. End-use electrification refers to the shift towards using electricity instead of gas or other fuels for end-use applications such as heating, cooking and transportation (electric vehicles). Our vast experience and market leadership position will allow us to capitalise on industry trends and fundamental growth drivers in the Indian power transmission sector,” said the company in its DRHP.
|FY19||₹3,571 crore||- ₹524 crore|
|FY20||₹5,158 crore||₹942 crore|
|FY21||₹3,816 crore||₹870 crore|
The company intends to use ₹955 crore of proceeds from the IPO towards repayments of Sterlite Power and its subsidiary Khargone Transmission’s debt.
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