Vedanta's Sterlite Electric plans ₹1,500 crore IPO
Sterlite Electric (Vedanta Group) is planning an IPO with a fresh issue of 77.9 lakh shares plus an equal offer for sale.
The company aims to use the funds to repay ₹350 crore in debt and invest ₹225 crore in expanding its Vadodara facility.
Sterlite's products and recent market performance
Sterlite Electric makes key equipment for power transmission and distribution, supplying India and over 70 countries.
They're behind things like overhead conductors, power cables, and optical ground wires.
In FY25, they held a 15% share of India's conductors market and led the high-ampacity AL59 segment with a 25-28% share.
Their unlisted shares recently traded at about ₹650—showing investors are paying attention.
Key details about the IPO
As of March 2025, their total borrowings were ₹3,486 crore. Promoter Twin Star Overseas owns nearly 70% before the IPO.
Axis Capital, Motilal Oswal Investment Advisors, and Nuvama Wealth are managing the deal.
With India pushing for more green energy by 2030—and Sterlite landing ₹1,500 crore in new orders just last quarter—the company looks set for more action both at home and globally.