Sterlite Energy, an arm of the Vedanta group and a wholly-owned subsidiary of Sterlite Industries has filed regulatory application for a $1.1 billion initial public offer (IPO), reports IndiaInfoline.

The company intends to use the net proceeds from the IPO to partially finance the construction and development of two power projects.

Sterlite Energy is engaged in the commercial power generation business and is currently developing two thermal power projects in India in Jharsuguda, Orissa and Talwandi, Punjab, with a combined proposed installed capacity of 4,380 megawatts (mw).

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