India markets regulator puts Vedanta Group’s Sterlite Electric public listing on hold

India’s markets regulator has put Sterlite Electric’s the initial public offering (IPO) on hold, according to an update on the regulator’s website on Monday.

The company, part of mining and metals conglomerate Vedanta Group, filed draft papers for the IPO in early October. The offering included a fresh issue of 7.8 million shares, along with an equal number of shares to be sold by existing shareholders.

The Securities and Exchange Board of India (SEBI) did not specify a reason for the decision, and Vedanta Group did not immediately respond to Reuters’ request for comment.

India’s IPO market has been booming, with more than 240 large and mid-sized companies raising $10.5 billion in the first nine months of 2025, making the South Asian nation the world’s third-largest market for IPO fundraising, according to LSEG data.

The country’s equity market is set to raise up to $8 billion through IPOs in the October to December period.