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MUMBAI, Nov 10: Vedanta Resources plans to raise up to $2 billion through an initial public offering of its energy firm in India, Sterlite Energy, to fund its power projects, the Business Standard newspaper said on Saturday.
Sterlite Energy is a subsidiary of Indian non-ferrous metals producer Sterlite Industries (India) Ltd.
British mining and metals group, Vedanta, owns 56.99 percent in Sterlite Industries.
The report quoted people familiar with the company’s plans as saying it is considering an initial public offering, which will probably be in India.—Reuters
