Sterlite Power offloads 14.7% stake in IndiGrid for Rs.8.40 bn
POWER & NEW AND RENEWABLE ENERGY

Sterlite Power offloads 14.7% stake in IndiGrid for Rs.8.40 bn

Sterlite Power has sold a 14.7 per cent stake it held in India Grid Trust (IndiGrid) to institutional and high networth individual investors. IndiGrid is India's first infrastructure investment trust in the power sector. Sterlite Power has sold the stake in at a unit price of `98. The company said in a statement that it will now focus on its core business as a developer of power transmission assets, adding that the remains committed to executing asset transfers of about `65 bn as per the framework agreement with IndiGrid.

Contact: Pratik Agarwal, Managing Director, Sterlite Power.

Address: 5th Floor, 5 North Avenue Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra-400 051.

Tel: 022-6646 1000, 020-7499 5900.

E-mail: pratik.agarwal@sterlitepower.com

Website: www.sterlitepower.com

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