| Log in

Sterlite Energy Files For $1.1B IPO

30 October, 2009

Sterlite Energy, a wholly-owned subsidiary of Vedanta Group firm Sterlite Industries, has filed its draft red herring prospectus (DRHP) to raise Rs 5,100 crore or $1.1 billion through a public issue.

The utility firm will use the proceeds to part fund two thermal power plants. Sterlite Energy also plans a pre-IPO placement of Rs 200 crore with investors.

Kotak Mahindra Capital Co, Enam Securities, JP Morgan and Morgan Stanley are the global co-ordinators and book running lead managers for the issue. Sterlite Energy is 100% owned by Sterlite Industries.

Sterlite Energy is developing its two plants in Punjab and Orissa with a combined capacity of 4,340 MW. These are being built at an expected investment of about Rs 15,000 crore.

It remains to be seen how the markets will respond to this issue. Issues of Indiabulls Power and Adani Power, two other private power companies which went pubic recently, have made lacklustre debuts in the market. Indiabulls Power, which raised about $380 million through its IPO, slumped as much as 22% on debut today.


Leave Your Comment
Sterlite Power InvIT’s IPO covered 16.3% on day two

Sterlite Power InvIT’s IPO covered 16.3% on day two

Ankit Doshi 6 months ago
The initial public offering (IPO) of India Grid Trust, an infrastructure...
Sterlite Power's India Grid InvIT falls on stock market debut

Sterlite Power’s India Grid InvIT falls on stock market debut

Ankit Doshi 6 months ago
India Grid Trust (IGT), an infrastructure investment trust (InvIT) sponsored by...
Exclusive: Top investors line up for IPO of Sterlite Power’s InvIT

Exclusive: Top investors line up for IPO of Sterlite Power’s InvIT

Ankit Doshi and Bruhadeeswaran R 6 months ago
A clutch of offshore investors are lining up to take part in the initial public...
No Comments

Sterlite Energy Files For $1.1B IPO

Powered by WordPress.com VIP