Sterlite Power postpones IPO plans on current market volatility

Sterlite Power has announced deferring its Rs 12.50 bllion initial public offering (IPO) in view of current volatility in the stock market.

In August 2021, the company had filed the draft red herring prospectus (DRHP) with Securities and Exchange Board of India. Given the volatility in the current markets and the limited window available under the currently filed DRHP, it has been decided to withdraw the DRHP. However, the company will remain observant of the market and it will consider re-filing the DRHP in the future. In the meantime, Sterlite Power is in conversation with large private capital institutions to grow the business.

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