Sterlite Power plans to roll out Rs 2,250-Crore IPO for its InvIT
DSIJ Intelligence / 17 May 2017
Sterlite Power Grid Ventures Ltd. will be the first power sector company to launch the initial public offer of its infrastructure investment trust (InvIT) on Wednesday.
Sterlite Power Grid Ventures Ltd. will be the first power sector company to launch the initial public offer of its infrastructure investment trust (InvIT) on Wednesday.
Incidentally, it will be the send infrastructure player to do so. IRB Infrastructure Developers Ltd. Was the first infrastructure company to launch an IPO for its InvIT.
IRB successfully raised Rs 5,040 crore through its IPO.
Sterlite's
The price band for the issue will be Rs 98-100/ unit and promoters will be holding 15 per cent in the InvIT.
The company will be using 60 per cent or Rs 1,600 crore of the proceeds to repay part of its external debt.
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