SEBI halts Vedanta Group firm Sterlite Electric's IPO process

New Delhi, Oct 27 (IANS) The Securities and Exchange Board of India (SEBI) has put the proposed initial public offering (IPO) of Sterlite Electric, part of the Vedanta Group, on hold, according to an update on the market regulator’s website on Monday.

Sterlite Electric had filed its draft red herring prospectus (DRHP) earlier this month, seeking approval for an IPO comprising a fresh issue of 7.8 million shares and an offer for sale (OFS) of an equal number of shares by existing shareholders.

Sterlite Electric, a subsidiary of the mining and metals conglomerate Vedanta, operates in the electrical and energy infrastructure segment and had planned to use the IPO proceeds for expansion and debt reduction.

Meanwhile, according to a recent report from Grant Thornton Bharat report, India recorded 688 deals worth $39.9 billion in the third quarter this year (Q3 2025), marking a strong uptick in overall deal activity.

Deal volumes reached their highest level since Q1 2022, while quarterly values hit a year-to-date peak, driven by a sharp increase in merger and acquisition (M&A) and record capital market issuances.

Deal values rose by 30 per cent year-on-year, while volumes increased by 8 per cent.

According to a report, private equity (PE) and mergers and acquisitions (M&A) combined accounted for 629 deals totalling $28.7 billion, representing a 14 per cent increase in volume and more than doubling the value from the previous quarter.

With 25 QIPs and 34 IPOs raising $5.6 billion apiece, the quarter saw the highest quarterly performance of the year in terms of both volume and value, and public market activity hit all-time highs.

Companies using the markets to reduce debt and raise growth capital were the main drivers of the surge. The $1.5 billion IPO of HDB Financial Services, the $558 million issue of Knowledge Realty Trust REIT, and the $466 million listing of NSDL were the largest.

With 263 deals totalling $22 billion, M&A activity has also increased dramatically in the quarter, representing a 34 per cent increase in volumes and a 31 per cent increase in values over Q2 2025.

Six billion-dollar deals totalling $15.3 billion, or 70 per cent of the total M&A value, were the main drivers of the surge.

With a record 191 transactions, domestic activity remained robust, the report said.

--IANS

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