IndiGrid to buy Rs. 11,500-cr electricity transmission assets from Sterlite Power
India Grid Trust (IndiGrid), an infrastructure investment trust (InvIT), will acquire five electricity transmission assets worth Rs. 11,500 crore ($1.66 billion) from Sterlite Power.
This comes after KKR and GIC recently announced fund infusion into IndiGrid. As a part of the deal, KKR and GIC have invested Rs. 1084 crore ($157 million) and Rs. 980 crore ($142 million), to collectively acquire 42 per cent of IndiGrid’s outstanding units.
India Grid Trust, backed by Sterlite Power Grid Ventures, was established in 2016 to own inter-State power transmission assets in India. Indi Grid will be issuing preference shares worth Rs. 2,514 crore to acquire the power transmission assets from Sterlite.
