Sterlite business unit plans IPO, plans to use funds to launch new cable facility
Sterlite Electric Ltd., the products and solutions arm of India’s Sterlite group, plans an IPO of about $180 million to fund a new power cable factory in Vadodara, Gujarat, cut debt, and back global expansion, including growing supply to U.S. utilities seeking advanced conductors and grid components. The offer will total roughly 15.6 million shares, split between fresh issuance and an offer for sale, with at least 75% reserved for institutional investors as Sterlite Electric sharpens its position in high‑voltage conductors, HVAC/HVDC cables, and OPGW for more than 70 export markets.