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Sterlite Power Transmission hires Axis Capital, JM Financial for planned IPO

With the IPO, Sterlite Power Transmission Ltd. is mulling to raise Rs 3,000 crores ($403 million) in the FY 2021-22 through March. A prospectus is expected to be filed by September.

August 01, 2021 / 10:18 PM IST
Vedanta Chairman Anil Agarwal (Image: PTI)

Vedanta Chairman Anil Agarwal (Image: PTI)

Billionaire Anil Agarwal-led Sterlite Power Transmission Ltd. has hired Axis Capital and JM Financial for a planned initial public offering, reported Bloomberg on August 1.

With the IPO, Sterlite Power Transmission Ltd. is mulling to raise Rs 3,000 crores ($403 million) in the FY 2021-22 through March. The reports adds that a prospectus is expected to be filed by September.

Meanwhile, Agarwal-led Vedanta's net sales for June quarter was at 12,958, which is up up 93.72 percent from Rs 6,689 crore in June 2020. The firm attained a quarterly net profit at Rs 3,336 crore in June 2021 up 12.55 percent from Rs 2,964 crore in June 2020.

Among other details, Vedanta's EPS has increased to Rs 8.97 in June 2021 from Rs 7.97 in June 2020, while its EBITDA stood at Rs 5,167 crore in June 2021 down 12.87 percent from Rs 5,930 crore in June 2020.

Total income in the April-June period of the ongoing financial year surged to Rs 29,151 crore from Rs 16,998 crore for Vedanta in the same quarter a year ago. The company’s expenses were at Rs 21,847 crore as against Rs 14,965 crore in April-June of 2020.

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"We are happy to announce another strong quarter with continued momentum across all businesses. We delivered record operational performance, maintaining the trajectory of cost and volumes, driven by structural integration and technology adoption," Vedanta's CEO Sunil Duggal said in a statement, after reporting over four-fold jump in its consolidated profit after tax (PAT) to Rs 4,280 crore during the June quarter.
Moneycontrol News
first published: Aug 1, 2021 07:26 pm

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