• Sterlite Electric, a power transmission products manufacturer backed by GEF Capital, is planning an IPO and aims for a valuation exceeding $800 million. The IPO will include a fresh issue of 77.9 lakh equity shares and an offer for sale of a similar number of shares.
• GEF Capital invested Rs 450 crore in Sterlite Electric late last year, acquiring a 6.74% stake at a valuation of Rs 6,677 crore ($752 million). GEF is not selling any of its stake in the planned IPO.
• Sterlite Electric intends to use Rs 350 crore from the IPO for debt repayment and Rs 225 crore for capital expenditure, including expanding its Vadodara facility. The remaining funds will be used for general corporate purposes.
• The IPO size is estimated at Rs 1,500 crore, potentially raising the company's valuation to approximately Rs 7,427 crore, or about $837 million. GEF Capital invested in Sterlite Electric from its $400-million South Asia Growth Fund (SAGF) III.

Aman Malik

A power transmission products manufacturing company backed by climate-focussed private equity firm GEF Capital will likely target a valuation of more than $800 million as it looks to widen its investor base.

GEF, which spun out of US-based Global Environment Fund five years ago and is raising a new India-focused fund ......

GEF-backed power products manufacturing firm eyes over $800 mn tag

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Manufacturing

A GEF-backed power products maker plans to target a valuation north of $800 million as it broadens its investor reach and scales its operations.

GEF-Backed Power Manufacturer Eyes $800M+ Valuation

GEF Capital

Enam Holdings

Sterlite Electric Ltd

Sterlite Power Transmission Ltd

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GEF-backed power products manufacturing firm eyes over $800 mn tag

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