The Business Bytes
TBB BUREAU
NEW DELHI, JANUARY 14, 2022
Leading private sector power transmission infrastructure developer and solutions provider Sterlite Power Transmission Limited on Friday announced the successful sale of its remaining shareholding constituting 26 per cent of the equity shareholding in IndiGrid Investment Managers Limited (IIML) – Investment Manager of India Grid Trust, to Electron IM Pte. Ltd, an affiliate of KKR & Co. Inc.
The ownership transfer has been effected as per the amended and restated shareholders agreement entered between Sterlite Power and Electron, on August 4, 2020. Post this transfer, Electron will hold 100 per cent equity shareholding in IIML.
Sterlite Power will continue its collaboration with IndiGrid and KKR to support infrastructure development in the country.
Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with projects covering approximately 13,700 circuit kms of transmission lines across India and Brazil. The Company has a portfolio of high-performance power conductors, extra high voltage cables and optical ground wires. The Company provides bespoke solutions for the upgrade, uprate and fiberization of existing transmission infrastructure projects. It is the sponsor of IndiGrid, India’s first power sector InvIT.
