IndiGrid is the first infrastructure investment trust in Indian power sector
IndiGrid is the first infrastructure investment trust in Indian power sector

IndiGrid approves induction of KKR as a sponsor

ANI | Updated: Sep 29, 2020 16:53 IST


Mumbai (Maharashtra) [India], Sep 29 (ANI): The unitholders of India Grid Trust (IndiGrid) have approved the induction of Esoteric II Pte Ltd, an affiliate of KKR and Co Inc as a sponsor with special majority and more than 75 per cent voting rights.
All regulatory approvals including the board's assent are in place for Esoteric II 's induction as a co-sponsor. The move marks an extension of IndiGrid's strategic relationship with KKR.
KKR is a leading global investment firm with over 43 years of experience and 222 billion dollars of assets under

management as of June 30. As part of KKR's first investment through its Asia Pacific infrastructure strategy, it had invested Rs 1,084 crore in May 2019 and currently owns 23 per cent stake in IndiGrid.
Separately, KKR also owns 60 per cent stake in Sterlite Investment Managers Ltd (SIML), the investment manager of IndiGrid.
"We believe that KKR's induction as a sponsor will expand IndiGrid's access to long-term capital and allow the trust to leverage KKR's global experience of investment management, along with enhancing the corporate governance standards in line with global standards," said IndiGrid's CEO Harsh Shah.
KKR's CEO Sanjay Nayar: "With the combination of our strong sector expertise and India experience, we aim to continue assisting IndiGrid's management team in expanding its platform and providing accessible electricity to Indian communities."
(ANI)

Loading...
iocl
iocl