Sterlite Energy, a subsidiary of diversified base metal producer Sterlite Industries plans to raise Rs 5100 crore in share sale through an initial public offer (IPO). a company statement said it had filed a regulatory application for the IPO. Sterlite Energy is engaged in the commercial power generation business and is currently developing Thermal power projects in Jharsuguda, Orissa and Talwandi, Punjab with a combined proposed installed capacity of 4380MW. the company said it planned to use the proceeds to part- fund two thermal power plants.
Sources : BS
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