Sterlite Power postpones IPO plans on current market volatility

Sterlite Power has announced that it will be deferring its Rs 12.5 billion IPO in view of the current volatility in the stock market. In August 2021, the company had filed a draft red herring prospectus (DRHP) with SEBI. Given the volatility in the current markets and the limited window available under this DRHP, it subsequently decided to withdraw it. However, the company will remain observant of the market and will consider refiling the DRHP in the future. In the meantime, Sterlite Power is in conversation with large private capital institutions to grow it business.