Sterlite Power has sold its 14.7 per cent stake held in India Grid Trust (IndiGrid) for Rs 8.40 billion at a unit price of Rs 98 to institutional and high net worth individual (HNI) investors.
In addition, Sterlite Power aims to focus on its core business as the developer of power transmission assets and remain committed to executing asset transfers of about Rs 65 billion as per the framework agreement with IndiGrid. Sterlite Power is a developer of power transmission infrastructure with projects of over 13,700 ckt kms and 24,800 MVA in India and Brazil.