NEW DELHI: Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) plans to file its draft prospectus by the first week of December and launch its initial public offering (IPO) by February 2027, targeting a fundraising of more than ₹10,000 crore, its chairman and managing director Lokesh Chandra said on Thursday.
“We expect to file for the IPO by December first week and launch the offer by February,” Chandra told Mint.
The proposed listing follows a restructuring of the state-run power distribution utility, including the demerger of its agricultural power distribution business, to prepare its core operations for a public listing.
In July, Bloomberg reported that MSEDCL had appointed SBI Capital Markets Ltd, IIFL Capital Services Ltd, ICICI Securities Ltd, Motilal Oswal Investment Advisors, IDBI Capital Markets & Securities and HDFC Bank as advisers for the proposed share sale.
In April, the Maharashtra government approved a financial restructuring of MSEDCL, including taking over ₹32,679 crore of its debt and demerging its agricultural business, paving the way for the listing.