Sterlite Power Transmission and US private equity giant KKR have agreed to be cosponsors and together manage the former’s infrastructure investment trust, India Grid Trust, according to executives involved in the transaction, which is the first-of-its-kind in the country’s power sector. India Grid Trust (IndiGrid) is aiming to raise Rs 2,560 crore through a qualified institutional placement that opened on Tuesday. — The Economic Times

S&R Associates advised lead managers Edelweiss Financial Services Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, and IndusInd Bank Limited, led by a team of partner Venkatesh Vijayaraghavan, and associates Abhiroop A Datta, Ajatshatru Pandey, and Neethu Roy.

Latham & Watkins LLP was US legal counsel to the lead managers.

Cyril Amarchand Mangaldas acted as Indian legal counsel to India Grid Trust and the sponsor.

2019-05-01

Deal value: ₹25.14 billion

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