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Sterlite Electric Files for Rs1,500-Crore IPO to Strengthen Power Transmission Business

Sterlite Electric, formerly known as Sterlite Power Transmission and part of the Vedanta Group, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) estimated at Rs1,400–1,500 crore. The offering will consist of a fresh issue of 7.79 million equity shares and an offer for sale of up to 7.79 million equity shares, totaling 15.5 million shares. Promoters Anil Agarwal and Twin Star Overseas, along with other shareholders, are expected to participate in the offer for sale.

The company plans to use the net proceeds from the fresh issue to repay or prepay debt, fund capital expenditure requirements, and support general corporate purposes. The IPO marks a strategic move for Sterlite Electric to strengthen its financial position and expand its manufacturing and system integration capabilities.

Sterlite Electric operates as both a manufacturer of capital goods and a provider of system integration solutions in the power transmission and distribution sector, catering to both domestic and international markets. In FY 2025, it commanded a 15% market share in India’s power conductors segment by value and a 25–28% share in the high ampacity and AL59 conductor market.

With a customer base spread across more than 70 countries—including the US, Brazil, Sweden, South Africa, Egypt, UAE, Chile, and Peru—the company has established itself as a key global player in the transmission and distribution sector. The IPO is expected to provide Sterlite Electric with the resources to further strengthen its domestic dominance while boosting its international reach.