India's Sterlite Energy plans $1.1 bln IPO

MUMBAI, Oct 30 (Reuters) - Sterlite Industries (India) Ltd (STRL.BO: Quote, Profile, Research) on Friday said its utility unit has filed a regulatory application for an initial public offer worth 51 billion rupees ($1.1 billion).

Sterlite, a unit of Vedanta (VED.L: Quote, Profile, Research) plans to use the proceeds to part fund two thermal power plants, it said in a statement.

Kotak Mahindra Capital Co, Enam, JP Morgan (JPM.N: Quote, Profile, Research) and Morgan Stanley (MS.N: Quote, Profile, Research) are among arrangers for the offering. ($1=46.9 rupees) (Reporting by Narayanan Somasundaram; Editing by Jarshad Kakkrakandy)