IndiGrid to acquire Rs 115 billion transmission assets from Sterlite Power
POWER & RENEWABLE ENERGY

IndiGrid to acquire Rs 115 billion transmission assets from Sterlite Power

The infrastructure investment trust (InvIT), India Grid Trust (IndiGrid) will be reportedly acquiring five electricity transmission assets worth Rs 115 billion from Sterlite Power. 

The news comes after KKR and GIC announced fund infusion into IndiGrid. Reportedly, as a part of the deal KKR and GIC have invested Rs 10.84 billion and Rs 9.8 billion, respectively, to collectively acquire 42 per cent of IndiGrid’s outstanding units. 

Backed by Sterlite Power Grid Ventures, IndiGrid was established in 2016 in order to own inter-state power transmission assets in India. It is expected to issue preference shares worth Rs 25.14 billion to acquire the power transmission assets from Sterlite.

This further marks KKR’s first infrastructure investment in Asia Pacific. With this deal, KKR has reportedly applied to become a sponsor of IndiGrid and is in plans to acquire an additional 15 per cent of IndiGrid’s total units from Sterlite Power. However, post transaction closure, KKR and GIC are expected to own nearly 57 per cent of IndiGrid’s outstanding units.

The new capital investment is expected to help IndiGrid achieve the goal of Rs 170 billion of assets under management. Furthermore, reports suggest that it also plans to achieve Rs 300 billion of assets under management (AUM) by 2022. 

In a separate transaction, KKR will reportedly acquire a majority shareholding in Sterlite Investment Managers, the investment manager owned by Sterlite Power. However, Sterlite Power will remain a sponsor and Project Manager of IndiGrid.

The infrastructure investment trust (InvIT), India Grid Trust (IndiGrid) will be reportedly acquiring five electricity transmission assets worth Rs 115 billion from Sterlite Power. The news comes after KKR and GIC announced fund infusion into IndiGrid. Reportedly, as a part of the deal KKR and GIC have invested Rs 10.84 billion and Rs 9.8 billion, respectively, to collectively acquire 42 per cent of IndiGrid’s outstanding units. Backed by Sterlite Power Grid Ventures, IndiGrid was established in 2016 in order to own inter-state power transmission assets in India. It is expected to issue preference shares worth Rs 25.14 billion to acquire the power transmission assets from Sterlite.This further marks KKR’s first infrastructure investment in Asia Pacific. With this deal, KKR has reportedly applied to become a sponsor of IndiGrid and is in plans to acquire an additional 15 per cent of IndiGrid’s total units from Sterlite Power. However, post transaction closure, KKR and GIC are expected to own nearly 57 per cent of IndiGrid’s outstanding units.The new capital investment is expected to help IndiGrid achieve the goal of Rs 170 billion of assets under management. Furthermore, reports suggest that it also plans to achieve Rs 300 billion of assets under management (AUM) by 2022. In a separate transaction, KKR will reportedly acquire a majority shareholding in Sterlite Investment Managers, the investment manager owned by Sterlite Power. However, Sterlite Power will remain a sponsor and Project Manager of IndiGrid.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement