Sterlite Power Transmission (SPTL), a subsidiary of Sterlite Group, is seeking an equity investor to raise up to INR 3,000 crore ($425,000) to invest in new projects, Mint reported on Aug. 4.
The company has approached “several bulge bracket investors which includes long-term yield focused funds,” an anonymous person with knowledge of the matter told the news outlet. No names have been finalized yet.
Operating primarily in India and Brazil, Sterlite Power has interests in power transmission assets, equipment and engineering procurement construction and has developed a portfolio of power transmission infrastructure of more than 12,816 circuit kilometers.
Read more about the prospective deal here.
