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, according to Mint.
Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) intends to launch its initial public offering (IPO) by February 2027 and aims to raise more than ₹10,000 crore, according to a report by Mint.
MSEDCL Chairman and Managing Director Lokesh Chandra said on Thursday that the company expects to file its draft prospectus by the first week of December.
The proposed listing follows a restructuring process that includes the demerger of the utility's agricultural power distribution business. In April, the Maharashtra government approved a financial restructuring that involved taking over ₹32,679 crore of the company's debt.
In fiscal year 2026 (FY26), MSEDCL reported a net profit of ₹930.62 crore, which was slightly lower than the ₹940.84 crore recorded in the previous year. Revenue from operations grew by approximately 6.5 per cent year-on-year to around ₹1.29 trillion in FY26.
The company's annual report for FY26 showed that as of 31 March 2026, it held accumulated losses of ₹35,551.92 crore and a net worth of ₹14,915.06 crore. These figures included the financials of its agricultural business.
MSEDCL serves approximately 34 million consumers. The power ministry's Distribution Utilities Ranking (DUR) report for FY25 ranked the company 46th out of 66 discoms with a score of 56.8 out of 100.