Core products and IPO strategy
Sterlite Electric Ltd., part of India’s larger Sterlite group, plans an IPO to grow its domestic manufacturing base and global reach, including more supply to U.S. utilities and infrastructure projects. This Sterlite Electric IPO power cable expansion positions the company as a stronger player in the international wire and cable market
Sterlite Electric operates as the leading products and solutions division of the group. It manufactures high‑voltage overhead conductors, advanced HVAC and HVDC power cables and Optical Ground Wire (OPGW), and also provides master system integration for transmission and distribution networks.​
Distinct role within the Sterlite group
The business stands apart from U.S.-based Sterling Electric Inc., which focuses on electric motors and gear reducers. It also differs from Sterlite Power Transmission, which develops transmission infrastructure, and from Sterlite Technologies, a fiber‑optics specialist with a U.S. factory serving telecom customers.
This IPO directly supports Sterlite Electric’s core products operation rather than a small niche line. The offering underscores its intent to scale in global grid modernization and high‑performance cable solutions.
Global reach and U.S. market presence
Sterlite Electric exports to more than 70 countries and reports strong order volumes from U.S. buyers seeking advanced grid components and transmission solutions. Its high‑capacity AL59 conductors and smart grid optical cabling already support major American power projects.
These deployments establish the company as an active participant in the U.S. wire and cable market, not just a peripheral supplier. The IPO aims to deepen that presence as utilities invest in reliability, resilience and clean‑energy connections.
Use of proceeds and investor focus
The company expects to raise roughly $180 million, using proceeds to build a new power cable factory in Vadodara, Gujarat, and to reduce corporate debt. This plan supports expansion while improving its debt‑equity profile.
Sterlite Electric will offer 15.6 million shares, with about half issued as new equity. At least 75% of the issue is reserved for qualified institutional buyers, with anticipated interest from North American investors
