Sterlite Power Grid is a unit of Sterlite Power Transmissions, which was demerged from Sterlite Technologies in May. Sterlite Power has filed an initial application to launch an InvIT, yet to decide amount of funds to be raised, says CEO Pratik AgarwalSterlite Power Grid is a unit of Sterlite Power Transmissions, which was demerged from Sterlite Technologies in May. Private power transmission systems firm Sterlite Power Grid Ventures Ltd is planning to raise around Rs.2,500 crore through an infrastructure investment trust (InvIT), a person close to the development said, requesting not to be identified. Explaining the rationale behind setting up an InvIT, Agarwal said such structures are a preferred capital raising route for companies globally. InvITs are trusts which manage income generating infrastructure assets, typically offering investors regular yields and a liquid method of investing in infrastructure projects.

Source: Mint June 13, 2016 20:15 UTC