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India Grid Trust completes acquisition of two power transmissions assets

Tuesday, 09 Jul 2019
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The India Grid Trust, an infrastructure investment trust, has completed the acquisition of two power transmission assets from Sterlite Power Transmission.

The two transmission assets include -- NRSS XXIX Transmission (NTL) and Odisha Generation Phase II Transmission (OGPTL) -- from Sterlite Power for an enterprise value of Rs 5,025 crore.

The India Grid Trust had signed definitive documents to acquire the two assets in April 2019. The acquisition has been funded through a preference unit issuance worth Rs 2,514 crore, subscribed by KKR, GIC and other capital market investors in May 2019.

The remaining amount has been funded through debt raised by IndiGrid and OGPTL.

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