Vedanta’s Sterlite Electric IPO Faces Delay As SEBI Holds Nod; Five Firms Get Green Light

Vedanta’s Sterlite Electric IPO Faces Delay As SEBI Holds Nod; Five Firms Get Green Light

Five companies — Milky Mist Dairy Food, Curefoods India, Steamhouse India, Gaja Alternative Asset Management (Gaja Capital), and Kanodia Cement — have received approval from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs), according to an update from the market regulator on Monday.

The companies had filed their IPO papers with SEBI between May and July, and received observations between October 14 and 24.

Meanwhile, SEBI has put the proposed IPO of Sterlite Electric on hold, without specifying a reason. Sterlite Electric, formerly known as Sterlite Power Transmission, had submitted its draft papers earlier this month. The company's IPO comprises both a fresh issue of shares and an offer for sale. Sterlite Electric, which manufactures specialised equipment for the power transmission and distribution sector, is majority-owned by Twin Star Overseas, while Vedanta Ltd held a 1.51% stake as of March 2025.

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Source: News18
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