Sterlite Power files DRHP for Rs 12.50 billion IPO

Sterlite Power Transmission Limited (SPTL) has filed a draft red herring prospectus (DRHP) with Securities Exchange Board of India to raise money from the primary market.

The initial public offering (IPO) will consist entirely of new equity shares with a face value of Rs 2 each, valued at Rs 12.50 billion. The initial public offering is anticipated to take place in the fourth quarter of this year. The company may also consider a Rs 2.20 billion pre-IPO placement. The company has reserved 75 per cent of the net issue to qualified institutional buyers (QIBs) and 15 per cent shares for non-institutional bidders. The retail investors will have the remaining 10 per cent allocation.

SPTL has appointed Axis Capital, ICICI Securities and JM Financial as the book running lead managers (BRLMs) to the issue, whereas KFin Technologies is the registrar for the issue.


Enter your email address