- Concludes sale of 26% equity holding of IIML – Investment Manager of India Grid Trust, to Electron – an affiliate of KKR & Co.
Sterlite Power Transmission Ltd. (‘Company’ or ‘Sterlite Power’), a leading private sector power transmission infrastructure developer and solutions provider, announced the successful sale of its remaining shareholding constituting 26% of the equity shareholding in IndiGrid Investment Managers Ltd. (IIML) – Investment Manager of India Grid Trust (‘IndiGrid’), to Electron IM Pte. Ltd. (‘Electron’), 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, dated August 4, 2020. Post this transfer, Electron will hold 100% 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 (EHV) cables and optical ground wires (OPGW). 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 sectorInvIT, listed on Bombay Stock Exchange Ltd. and National Stock Exchange of India Ltd. The company was also recognised at The Economic Times Innovation Awards 2020 and is a recipient of awards from International Project Management Association (IPMA).