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IndiGrid concludes acquisition of three power assets from Sterlite Power Grid Ventures

20 Feb 2018 Evaluate

India Grid Trust (IndiGrid) has completed the acquisition of three assets - RAPP Transmission Company, Purulia and Kharagpur Transmission Company and Maheshwaram Transmission (together MRP) from its Sponsor - Sterlite Power Grid Ventures. It has simultaneously signed definitive agreements with Techno Electric & Engineering Company to invest in Patran Transmission Company (PTCL).

The purchase consideration for MRP is Rs 14.10 billion and for PTCL is Rs 2.32 billion. Both these acquisitions are highly accretive and will increase portfolio IRR to 11% at current price. They will enable IndiGrid to deliver a DPU of at least Rs 12 for the next five years.

India Grid Trust is an India-based infrastructure investment trust. The Investment objectives of the Trust are to undertake activity as an infrastructure investment trust in accordance with the provisions of the infrastructure investment trust (InvIT) Regulations.  


Peers
Company Name CMP
Bajaj Finserv 1725.10
TVS Holdings 11801.00
Cholamandalam Fin. 1355.30
Altius Telecom Infra 179.00
Kama Holdings 2267.95
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