SCPE had invested Rs500 crore in Sterlite Power in 2014, being the first private foreign investment in the Indian transmission sector. Photo: Hemant Mishra/MintMumbai: Sterlite Power on Monday said it has bought Standard Chartered Private Equity (SCPE)’s 28.4% stake in its transmission business for Rs1,010 crore. Sterlite Power had attracted an investment of Rs500 crore in 2014 from SCPE, which was the first private foreign investment in the Indian transmission sector,” Sterlite Power said in a statement. “With this acquisition we reiterate our excitement about the unprecedented growth opportunity in the power transmission sector,” Pratik Agarwal, group chief executive of Sterlite Power, said in the statement. Sterlite Power also sponsors IndiGrid, India’s first power infrastructure investment trust, listed on the BSE and NSE.

Source: Mint January 29, 2018 13:18 UTC