Sterlite Power Transmission has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,250 crore through an initial share sale.

The initial public offer (IPO) will see the sale of equity shares aggregating up to Rs 1,250 crore by the company, according to the draft red herring prospectus (DRHP).

The offer will include a reservation of shares for employees of the company.
The IPO will be used to pay certain borrowings availed by the company and Khargone Transmission Limited (KTL).

The company may consider a pre-IPO placement aggregating up to Rs 220 crore. If such an order is completed, the issue size will be reduced. Agarwal and Twin Star Overseas promote Sterlite Power.

The electricity transmission infrastructure firm, part of Vedanta group, has two business lines are global Infrastructure and solutions.