IPO News

Sterlite Energy Ltd files DRHP with SEBI for IPO



Posted On : 2009-10-30 05:26:50( TIMEZONE : IST )

Sterlite Energy Ltd files DRHP with SEBI for IPO

Sterlite Industries (India) Limited ("Sterlite") today announced that its wholly owned subsidiary Sterlite Energy Limited ("Sterlite Energy") has filed Draft Red Herring Prospectus with the Stock Exchange Board of India ("SEBI") Pursuant to this, Sterlite Energy proposes an initial public offering ("IPO") of its equity shares to raise INR 51,000 million. Sterlite Energy intends to use the net proceeds from the Offering to partially finance the construction and development of power projects in Jharsuguda and Talwandi and general corporate purposes.

Sterlite Energy is engaged in the commercial power generation business in India and is current developing two thermal power projects in India in Jharsuguda, Orissa and Talwandi, Punjab, respectively, with a combined proposed installed capacity of 4,380 MW. The Equity Shares of Sterlite Energy are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.

Kotak Mahindra Capital Company Limited, Enam Securities Private Limited, J. P. Morgan India Private Limited and Morgan Stanley India Company Private Limited are acting as the Global Co-ordinators and Book Running Lead Managers ("GCBRLMs") to the IPO and, ICICI Securities Limited, JM Financial Consultants Private Limited, SBI Capital Markets Limited and UBS Securities India Private Limited are acting as the Book Running Lead Managers ("BRLMs") to the IPO.

Source : Equity Bulls

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