Sterlite Power Transmission is likely to be one of the first companies to raise capital through InvITs.
December 5, 2016
According to reports, Sterlite Power Transmission seeks approval from the market regulator Securities and Exchange Board of India (Sebi) to raise funds through an Infrastructure Investment Trust (InvITs). The trust, which will be called India Grid Trust, will house two of the company’s revenue generating transmission projects. The company is planning to rise around Rs. 2,650 Crore by March and would use the funds to pare debt and for future projects.
Sterlite Power Transmission sees its portfolio of transmission projects more than doubling to be worth Rs 30,000 to 35,000 Crore by 2020. It has also set its sights on technology to get an edge over competition and wants to emerge as a digital company by then. Sterlite has a total portfolio of 10 projects worth Rs 11,000 Crore, of which four are fully operational, two partially operational and four are at various stages of construction.
