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

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..