Sterlite Electric has filed a draft red herring prospectus (DRHP) with SEBI expecting to raise around INR 1,500 crore through its initial public offering (IPO) to fund its growth plans and pare debts.

Oct 03, 2025

Sterlite Electric has filed a draft red herring prospectus (DRHP) with SEBI expecting to raise around INR 1,500 crore through its initial public offering (IPO) to fund its growth plans and pare debts. The IPO comprises a fresh issue of 77.9 lakh shares and an equal OFS.

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The proceeds will be used for debt repayment, and capex, including its new plants and machinery, and general corporate purposes. The company operates in power transmission and distribution, serving both domestic and global markets.

As on September 20, 2025, the aggregate outstanding borrowings of the company on a standalone basis were INR 600 crore and on a consolidated basis, it is INR 3,485.7 crore. The company proposes to utilise an estimated amount of up to INR 350 crore from the net proceeds towards repayment/ prepayment, in part or full, of all or a portion of certain borrowings availed by our company and the accrued interest thereon. Further, the company proposes to utilise an estimated amount of INR 225 crore from the net proceeds towards the funding of capital expenditure requirements for expansion at our Vadodara facility in Gujarat for the purchase of plant, machinery and equipment over fiscal 2027.

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In FY25, the company posted a revenue from operations of INR 4,956 crore compared to INR 4,918 crore in the preceding fiscal. The company is in its growth trajectory expanding rapidly through rising generation capacity, renewable energy targets and an increasingly interconnected grid.