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 Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code