New Delhi. Amidst the corona virus epidemic, many companies issued IPOs. Many of these IPOs also got a good response from the investors of the country and abroad. Enthused by this, companies are coming up with IPO one after the other. In this episode, now Sterlite Power Transmission is also bringing IPO (Sterlite Power Transmission IPO). The company has submitted Draft Red Herring Prospectus (DRHP) to SEBI for this. This company is a promoted company of Anil Agarwal. The company plans to raise Rs 1,250 crore from the IPO.
Pre – IPO placement is also being considered
Sterlite Power Transmission is promoted by Anil Agarwal and Twin Star Overseas. The company has said that a proposal to bring pre-IPO placement of Rs 220 crore before the IPO can also be considered. If such a placement takes place, the number of shares to be issued under the IO may be curtailed. The company will use the funds from the IPO to settle the debt taken from Khargone Transmission Limited (KTL).
Some part will be kept in reserve for the employees
Sterlite has appointed Axis Capital, ICICI Securities and JM Financial as Book Running Lead Managers for the IPO. At the same time, K-Fin Technologies will act as the registrar for the IPO. A part of the IPO will be kept reserved for the employees. The company’s shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
How does Sterlite power transmission work?
The company provides integrated power transmission infrastructure and solution services with the help of its two units. The company has power infrastructure assets in India and Brazil. The company’s Global Infrastructure Business Unit is engaged in the business of designing, construction and operation of power transmission assets.