MahaTransco selects advisors for $1-B IPO: report

Maharashtra State Electricity Transmission Company (MahaTransco) has selected Axis Capital to lead its upcoming initial public offering (IPO), which is expected to raise approximately INR 10,000 crore (USD 1 billion). The company is also expected to work with a syndicate of merchant bankers including SBI Capital Markets, CLSA and Bank of Baroda.MahaTransco is the state-owned power utility that operates as India’s largest state transmission utility, managing a network of 51,518 circuit kilometres of transmission lines and 742 extra-high-voltage substations. The utility reported revenue of INR 6,554 crore and a net profit of INR 1,883 crore for the 2025 financial year.The company plans to utilize the IPO, which will feature a mix of a fresh issue and an offer for sale, to support grid expansion, renewable energy integration, and system modernization. The state government intends to launch the share sale by June 2027 to monetize state infrastructure assets as electricity demand in Maharashtra continues to rise.