Power transmission project developer Sterlite Power has sold its 14.7% stake in India Grid Trust (IndiGrid), an infrastructure investment trust (InvIT), to institutional and high net worth individual investors, for ₹840 crore, the company said on Friday. Sterlite Power is the sponsor of IndiGrid, India’s first power sector InvIT, which had gone public in 2017.
The buyers of the stake included engineering giant Larsen & Toubro Ltd, which bought IndiGrid units worth ₹250 crore, Morgan Stanley Asia Singapore PTE, and Societe Generale, data from stock exchanges showed.
