India’s markets regulator, the Securities and Exchange Board of India (SEBI), has placed the initial public offering (IPO) of Sterlite Electric on hold, according to an update posted on SEBI’s website on Monday.
Sterlite Electric, a subsidiary of the Vedanta Group, had filed its draft red herring prospectus (DRHP) in early October 2025. The proposed IPO included a fresh issue of 7.8 million shares, along with an offer for sale (OFS) of an equal number of shares by existing shareholders.
SEBI did not disclose the reason behind the decision to pause the IPO process, and Vedanta Group has not yet responded to Reuters’ request for comment.
The move comes amid a robust year for India’s primary market, which has witnessed over 240 large and mid-sized companies raising around $10.5 billion through IPOs in the first nine months of 2025, according to LSEG data. This performance has positioned India as the world’s third-largest IPO market for the year.
Experts expect the momentum to continue, with up to $8 billion in IPO fundraising projected between October and December 2025 as investor sentiment remains strong.
