MSEDCL targets February 2027 IPO to raise over ₹10,000 crore
The Maharashtra state electricity distribution company plans to file its draft prospectus by the first week of December.
Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) aims to launch its initial public offering (IPO) by February 2027, according to a report by Mint. The company intends to raise more than ₹10,000 crore through the sale.
MSEDCL Chairman and Managing Director Lokesh Chandra said on Thursday that the firm expects to file its draft prospectus by the first week of December. The listing follows a restructuring process that included demerging the utility's agricultural power distribution business.
In April, the Maharashtra government approved a financial restructuring for the utility, which involved taking over ₹32,679 crore of its debt. This move was intended to prepare the core operations for the public listing.
The company reported a net profit of ₹930.62 crore in fiscal year 2026 (FY26), compared to ₹940.84 crore in the previous year. While revenue from operations grew by approximately 6.5 per cent to around ₹1.29 trillion in FY26, the company's annual report showed accumulated losses of ₹35,551.92 crore and a net worth of ₹14,915.06 crore as of 31 March 2026.
MSEDCL serves approximately 34 million consumers and has previously dealt with financial pressure from subsidy payment gaps and high receivables in the agricultural sector. The company's ranking in the power ministry's Distribution Utilities Ranking (DUR) report for FY25 was 46th out of 66 discoms.