July 16, 2009 (FinancialWire) — India’s Sterlite Industries Ltd. (NYSE: SLT) has filed an automatic shelf registration statement with the U.S. Securities and Exchange Commission, and plans to offer American Depositary Shares for gross proceeds of around $1.50 billion. J.P. Morgan Securities (NYSE: JPM) and Morgan Stanley & Co. International (NYSE: MS) are acting as joint bookrunners.

The company plans to offer the underwriters over-allotment option equivalent to 15% of the offering size, excluding any portion of the offering allocated to Vedanta Resources plc. Vedanta, a 61.7% shareholder of Sterlite, plans to subscribe for $500 million of ADSs in the offering.

Sterlite plans to use the net proceeds from the offering for the further development of its power generation business in India, planned capital expenditures, planned and potential acquisitions and for general corporate purposes.

Mumbai-based Sterlite is a non-ferrous metals and mining firm with interests and operations in aluminium, copper and zinc and lead. It is a subsidiary of Vedanta Resources, a London-based metals and mining group.

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