Sterlite Power Transmission, led by billionaire Anil Agarwal, has filed draft papers to raise up to Rs 1,250 crore through an initial public offering (IPO).
Sterlite Power has filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI).
The company, promoted by Agarwal and Twin Star Overseas, also said it may consider a pre-IPO placement of equity shares of up to Rs 220 crore. The number of equity shares in the issue will be reduced if such a placement is conducted.
The proceeds of the IPO will be used to repay or prepay certain borrowings availed by the company and Khargone Transmission Limited (KTL).
The company has appointed Axis Capital, ICICI Securities, and JM Financial as the book running lead managers for the issue, while KFin Technologies is the registrar.
A part of the offering has been reserved for the employees. The shares of the company will be listed on BSE and the NSE.
Sterlite Power develops integrated power transmission infrastructure and provides solution services through two business units - Global Infrastructure and Solutions. The company has power infrastructure assets in India and brazil.
The Global Infrastructure business unit bids for, designs, constructs, owns and operates power transmission assets, according to the DRHP.
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