Sterlite Electric Ltd (formerly, Sterlite Power Transmission Ltd), has filed its Draft Red Herring Prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) for an Initial Public Offering (IPO).
The IPO comprises a fresh issue of up to 7.793 million equity shares and an offer for sale of up to 7.796 million equity shares, aggregating around 15.589 million equity shares.
Promoters of Sterlite Electric – an entity of the Vedanta Group — are Anil Agarwal and Twin Star Overseas Ltd, who will also participate in the offer for sale along with other shareholders.
Objects of the issue
Net proceeds from the fresh issue are proposed to be utilized towards repayment or prepayment of borrowings availed by the company and its subsidiaries, funding capital expenditure requirements and general corporate purposes.
Power T&D specialist
Sterlite Electric is a manufacturer of capital goods and a provider of system integration solutions, specializing in the power transmission and distribution industry for both domestic and international markets. Its product portfolio includes a wide range of overhead conductors, power cables, optical ground wire (OPGW), along with the provision of master system integration (MSI) services.
Market share
In FY25, the company held 15 per cent share of the Indian power conductors market in terms of value. Its share in the high-ampacity and AL59 conductor market was 25-28 per cent, in value terms.
Market reach
It has catered to customers in more than 70 countries, including the USA, Brazil, Sweden, South Africa, Egypt, UAE, Chile, and Peru, during the period from April 1, 2022, to March 31, 2025.
Manufacturing plants
The company operates manufacturing facilities spread across four strategic locations. The facilities at Jharsuguda (Odisha), Piparia and Rakholi (both located in UT of Dadra & Nagar Haveli and Daman & Diu) specialize in overhead conductor production. The Haridwar facility in Uttarakhand is dedicated to power cables, while the Piparia facility at Silvassa in UT of DNH&DD also manufactures OPGW.
Capacity
As of March 31, 2025, the company’s annual installed capacity stood at 117,195.60 tonnes for overhead conductors, 2,400 km for power cables, and 21,000 km for OPGW.
Industry outlook
According to the CRISIL Report cited in the DRHP, India’s transmission sector is expected to undergo significant expansion to integrate 500 GW of non-fossil fuel capacity by 2030, of which 280 GW is expected to come from solar and 140 GW from wind. This will require substantial investment in inter-state transmission systems to evacuate renewable energy from generation hubs to demand centers.
In parallel, the power cables industry is projected to grow at a CAGR of 11–13 per cent between FY24 and FY29, driven by rising investments in transmission and distribution, renewable integration and urban infrastructure development. Large integrated players such as Sterlite Electric, with scale, technology leadership and execution capabilities, are expected to benefit disproportionately from these structural tailwinds.
Also read: Sterlite Electric Ltd secures Rs.1500-crore orders in Q1FY26