InvIT IndiGrid to make first third-party acquisition for Rs 2 billion

To also acquire three assets from Sterlite Power

In a first for the country, Infrastructure investment trust (InvIT) IndiGrid on Tuesday said it will acquire a partial stake in Patran Transmission for Rs 2.32 billion, making it the first third-party acquisition by an InvIT. In addition, IndiGrid has also acquired three assets from its sponsor Sterlite Power Grid Ventures for Rs 14.10 billion.

“IndiGrid has completed the acquisition of three assets — RAPP Transmission Company Limited, Purulia and Kharagpur Transmission Company Limited and Maheshwaram Transmission Limited (MRP) from its Sponsor — Sterlite Power Grid Ventures Limited,” IndiGrid said in its statement on Tuesday. The purchase consideration for the