New Delhi, 29 September 2022: Sterlite Power, a leading private sector power transmission infrastructure developer and solutions provider, announced the postponement of their plans to go public through an IPO.
Sterlite Power Transmission Limited, which had filed the DRHP in the month of August 2021 informed SEBI about the development and has requested to withdraw the DRHP.
Pratik Agarwal, Managing Director, Sterlite Power, said, “Given the volatility in the current markets and the limited window available under the currently filed DRHP, Sterlite Power has decided to withdraw the DRHP. However, it remains observant of the market and will consider re-filing DRHP in the future. In the meantime, we are in conversation with large private capital institutions to grow the business.”
About Sterlite Power:
Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with a project portfolio of 30 projects covering approximately 14,602 circuit kms of transmission lines across India and Brazil. The Company has a portfolio of high-performance power conductors, extra high voltage (EHV) cables and optical ground wires (OPGW). The Company provides bespoke solutions for the upgrade, uprate and fiberization of existing transmission infrastructure projects. It was the sponsor of IndiGrid, India’s first power sector InvIT, listed on Bombay Stock Exchange Limited and National Stock Exchange of India Limited. The Company was also recognised at The Economic Times Innovation Awards 2020 and is a recipient of awards from S&P Platts and International Project Management Association (IPMA).
For more details, please visit https://www.sterlitepower.com/