Sterlite Electric, Pride Hotels & Gaudium IVF File DRHP for their IPOs; here are details

Sterlite Electric, Pride Hotels, and Gaudium IVF have filed DRHPs with SEBI for IPOs comprising fresh issues and offers for sale.

Sterlite Electric DRHP details
Sterlite Electric, part of the Vedanta Group and formerly known as Sterlite Power Transmission Limited, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) as it gears up for an Initial Public Offering (IPO). The IPO will consist of a fresh issue of up to 7,793,371 equity shares and an offer for sale of up to 7,795,803 equity shares, combining to a total of up to 15,589,174 equity shares. Promoters Anil Agarwal and Twin Star Overseas Limited, alongside other shareholders, are participating in the offer for sale. The planned use of funds from the fresh issue includes repayment or prepayment of borrowings by the company and its subsidiaries, capital expenditure, and general corporate requirements.

Sterlite Electric is a manufacturer of capital goods and a provider of system integration solutions, specialising in the power transmission and distribution ("Power T&D") industry for both domestic and international markets. Its product portfolio includes overhead conductors, power cables, optical ground wire ("OPGW"), and master system integration ("MSI") services.

The company held a 15% share of the Indian power conductors market by value in Fiscal 2025 and a 25–28% share in the high ampacity and AL59 conductor market. Sterlite Electric has served customers in over 70 countries from April 2022 to March 2025, including the USA, Brazil, Sweden, and South Africa.

Revenue from external customers outside India (continuing operations), reported under Ind AS 108 'Operating Segments,' amounted to ₹10,007.07 million, ₹16,576.49 million, and ₹11,800.53 million in Fiscals 2025, 2024, and 2023, respectively. The company operates four manufacturing facilities across Jharsuguda (Odisha), Piparia and Rakholi (Dadra and Nagar Haveli), and Haridwar (Uttarakhand), strategically placed for access to resources and transport.

Axis Capital, Motilal Oswal Investment Advisors, and Nuvama Wealth Management are appointed as the Book Running Lead Managers to Sterlite Electric’s issue.

Pride Hotels DRHP details
Pride Hotels, headquartered in New Delhi, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). The company is the sixth largest hotel chain in India by chain owned inventory in the upscale, upper midscale, and midscale segments (Source: Horwath Report). The offer will include a fresh issue of equity shares aggregating up to ₹2,600 million and an offer for sale of up to 39,239,446 equity shares of ₹5 face value each.

The offer for sale includes shares by Sureshchand Premchand Jain (up to 5,963,978 shares), MeenaSureshchand Jain (up to 2,205,030 shares), Satyen Suresh Jain (up to 5,344,740 shares), ASP Enterprises Private Limited (up to 4,964,350 shares), The Executive Inn Limited (up to 2,394,136 shares), Kopra Estate Private Limited (up to 3,049,010 shares), and Pride Plaza (I) Private Limited (up to 2,651,313 shares) (the Promoter selling shareholders).

Motilal Oswal Investment Advisors and JM Financial are acting as Book Running Lead Managers for the Pride Hotels issue.

Gaudium IVF and Women Health DRHP Details
Gaudium IVF and Women Health Limited, one of India’s leading fertility and IVF service providers, has re-filed its Draft Red Herring Prospectus ("DRHP") with SEBI. The company operates through a hub-and-spoke model comprising 7 hubs and 28 spokes across multiple states, making it one of the largest IVF networks in India. Founded by Dr. Manika Khanna, Gaudium IVF has emerged as a pioneer in assisted reproductive technologies.

The offer comprises a fresh issue of up to 1,13,92,500 equity shares and an offer for sale of up to 94,93,700 equity shares by promoter Dr. Manika Khanna, aggregating to a total of 2,08,86,200 equity shares of face value ₹5 each. In its previous filing, the company proposed a larger fresh issue and a smaller offer for sale, but in the current structure, the OFS portion has increased substantially, indicating higher promoter dilution.

The net proceeds from the fresh issue in Gaudium IVF’s IPO are earmarked for capital expenditure to establish 19 new IVF centres across India (₹50 crore), repayment or prepayment of certain outstanding borrowings (₹20 crore), and general corporate purposes. Sarthi Capital Advisors Private Limited is the exclusive Book Running Lead Manager, with Bigshare Services Private Limited as the registrar to the offer.