Global private equity major KKR and Singapore’s sovereign wealth fund GIC have together invested $363 million to acquire a controlling stake in India Grid Trust (IndiGrid), the latter announced on Saturday.
As part of the transaction, KKR and GIC have invested Rs 1,084 crore ($157 million) and Rs 980 crore ($142 million), respectively, to collectively own 42 per cent of IndiGrid’s outstanding units. KKR has also applied to become a sponsor of IndiGrid and plans to acquire an additional 15 per cent of IndiGrid’s total units from Sterlite Power.
