Sterlite Power successfully completes ownership transfer in IndiGrid

Sterlite Power Transmission Limited ("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 Limited ("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.

Shares of India Grid Trust was last trading in BSE at Rs. 150.85 as compared to the previous close of Rs. 149.53. The total number of shares traded during the day was 65376 in over 585 trades.

The stock hit an intraday high of Rs. 151.00 and intraday low of 148.32. The net turnover during the day was Rs. 9792735.00.

Source : Equity Bulls

Keywords

IndiaGridTrust IndiGrid InvIT INE219X23014 SterlitePowerTransmission