Sterlite Grid 32 Raises Rs 24.50 Bn Through Listed NCDs

09 Jan 2025 CW Team

Sterlite Grid 32 Ltd (SGL32), a power transmission solutions provider, announced on Monday that it had successfully raised Rs 24.50 billion through listed non-convertible debentures (NCDs) to refinance its Mumbai Urja Marg (MUML) project.

The National Bank for Financing Infrastructure and Development (NaBFID) and India Infrastructure Finance Company Limited (IIFCL) were the successful bidders for the NCDs, which are listed on the Bombay Stock Exchange (BSE), according to a company statement. This marks the first listed NCD issuance by Sterlite Grid 32 Ltd since its joint venture with Singapore's GIC. The NCDs have been rated AA+ stable by CRISIL Ratings. In October 2024, the infrastructure division of Sterlite Power Transmission Ltd was demerged to form Sterlite Grid 5 Limited (SGL5). Recently, SGL5 entered into a joint venture with GIC of Singapore, which will now manage all its transmission projects in India via Sterlite Grid 32 Limited.

Pratik Agarwal, Director of Sterlite Grid 32 Ltd, stated that the joint venture has now gained access to more robust alternative funding sources. This transaction represents a significant step for the company in diversifying from traditional debt financing sources to capital market debt financing. "This landmark transaction showcases our capacity to secure cost-efficient financing while maintaining strong investor confidence," Agarwal added.

The joint venture secured the MUML project in June 2020 through tariff-based competitive bidding to execute the green energy corridor project on a Build, Own, Operate, Maintain (BOOM) basis for 35 years.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..