Sebi puts Vedanta Group’s Sterlite Electric IPO on hold

The Securities and Exchange Board of India (Sebi) has put Sterlite Electric’s proposed initial public offer on hold, withholding its observations without providing a specific reason. The specialized capital goods manufacturer, formerly Sterlite Power Transmission, had recently filed its draft papers for the public issue, which is set to include both a fresh issue and an offer-for-sale.

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