Billionaire and Vedanta Resources Chairman Anil Agarwal-led Sterlite Power Transmission has filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) to raise upto ₹1,250 crore through an initial public offering (IPO). Sterlite Power, the electricity transmission infrastructure firm, part of Vedanta group, has two business lines, global Infrastructure and solutions and is promoted by Agarwal and Twin Star Overseas. The power company takes and handles power transmission projects and electric line projects in India. The global infrastructure business line bids for, designs, constructs, owns and operates power transmission assets and currently has operations in India and Brazil. Also, the company operates the convergence business line, which leverages existing power utility infrastructure for telecommunications purposes by building optical fibre infrastructure on top of existing utilities networks.

Source: Mint August 17, 2021 06:58 UTC