IndiGrid unitholders approve KKR’s induction as sponsor

KKR has become the sponsor of India Grid Trust (IndiGrid) after the unitholder of the latter approved the proposal less than three months after the investor had withdrawn its intent to be a sponsor to the infrastructure investment trust.

In a first of its kind transaction, KKR had invested Rs 1,084 crore in the InvIT set up by Sterlite NSE 0.51 % Power Transmission and GIC NSE -0.37 % Infra Holdings had chipped in Rs 980 crore in May 2019. KKR was to buy an additional 15% in the InvIT and become a sponsor, but it withdrew the plan in July this year.