Sterlite Electric files DRHP with SEBI for IPO

Sterlite Electric files DRHP with SEBI for IPO.

Expert Analysis :

• IPO Structure: Sterlite Electric has filed its DRHP with SEBI for an IPO comprising a fresh issue of up to 7,793,371 equity shares and an offer for sale of up to 7,795,803 equity shares, totaling up to 15,589,174 equity shares. Promoters Anil Agarwal, Twin Star Overseas Limited, and other shareholders are participating in the sale.

• Fund Utilization: Proceeds from the fresh issue will be directed towards repayment or prepayment of borrowings by the company and subsidiaries, capital expenditure, and general corporate purposes.

• Business Portfolio: The company operates in the Power T&D industry with products including overhead conductors, power cables, optical ground wire, and master system integration services. It held a 15% share of the Indian power conductors market in FY25 and a 25–28% share in the high ampacity and AL59 conductor market.

• Global Market Presence: From April 2022 to March 2025, Sterlite Electric served customers in over 70 countries, including the USA, Brazil, Sweden, and South Africa.

• Financial Performance: Revenue from external customers outside India amounted to ₹10,007.07 million in FY25, ₹16,576.49 million in FY24, and ₹11,800.53 million in FY23, under Ind AS 108.

• Operational Footprint: Sterlite Electric runs four manufacturing facilities in Jharsuguda (Odisha), Piparia and Rakholi (Dadra and Nagar Haveli), and Haridwar (Uttarakhand), positioned for logistical and resource advantages.

• Issue Management: Axis Capital, Motilal Oswal Investment Advisors, and Nuvama Wealth Management are the appointed Book Running Lead Managers for the IPO.