New Delhi, Jan. 15 -- India's market regulator has asked minerals-to-energy Vedanta conglomerate's latest market-bound firm for more details on ownership structure and how it ultimately benefits the group's billionaire founder Anil Agarwal, three people aware of the matter told Mint.

On paper, Anil Agarwal has zero direct holdings in the Sterlite Electric Ltd, which last year filed its draft red herring prospectus (DRHP) for an initial public offer. But the Securities and Exchange Board of India, or Sebi, flagged his role as an individual promoter of Vedanta Group's power transmission company despite no direct equity interest, two of the three sources said.Sebi put the initial public offering on hold in October, the regulator said then....