The regulator is currently examining the allegations by Viceroy and has also sought relevant details from the company. The regulator’s website on October 27 showed that Sterlite’s public issuance has been kept in abeyance.
Sterlite Electric expects a turnover of about Rs 6,500 crore in FY26 and plans to double in the next three to four years by expanding into high-end cable manufacturing, Agarwal has said
As part of Sterlite Power’s demerger exercise, the Global Products and Solutions (GPS) business was hived out as an independent company in October 2024, a company statement said.
This takes the company's cumulative order wins in FY24 to Rs 7,000 crore, up 35 per cent year-on-year (YoY) over FY23, Sterlite Power said in a statement.
Via this arrangement, Sterlite Power will own the majority stake of 51 percent and GIC will own the remaining stake.
The project was made fully operational in January 2023, a statement said.
While transmission charges for renewable energy projects have been waived, infrastructure development costs persist, hindering the widespread adoption of renewable energy. Pratik Agarwal shares his expectations from Budget 2024.
Sterlite Power is the sponsor of India's first power sector InvIT, India Grid Trust (IndiGrid) which is listed. In September 2022, the firm announced that it had withdrawn its DRHP and deferred its listing plans due to unfavourable market conditions.
The project will involve constructing a 350 kilometre, 765kV transmission corridor from Fatehgarh III to Beawar in Rajasthan.
Since its foray in Brazil in 2017, Sterlite Power has built a significant footprint in the country, acquiring 13 projects through greenfield global auction process.
The set of orders, won across domestic and international markets, have strengthened the company's solutions business unit's order book to Rs 5,200 crore during FY23, Sterlite Power said in a statement.