Maha begins $1 bn-IPO plans for state power distributor: Report

Maharashtra has begun IPO preparations for its power distribution utility, MSEDCL, Bloomberg reported. It is working with SBI Capital and Deloitte on the proposed share sale that aims to raise between $500 million and $1 billion. The offering could include a mix of fresh shares and a stake sale, with a potential dilution of about 10% by state-run MSEB Holding.