Sterlite Power completes ownership transfer in IIML to Electron

Sterlite Power on Friday said that it has completed the transfer of its ownership in IndiGrid Investment Managers Ltd (IIML) to Electron IM Pte Ltd, an affiliate of KKR & Co Inc. The ownership transfer has been effected as per the amended and restated shareholders agreement entered between Sterlite Power and Electron, dated August 4, 2020. After this transfer, Electron will hold 100 per cent equity shareholding in IIML, the company said in a statement.

Sterlite Power Transmission Ltd, a leading private sector power transmission infrastructure developer and solutions provider, announced the successful sale of its remaining shareholding constituting 26 per cent of the equity shareholding in IIML, the investment manager of India Grid Trust, to Electron IM Pte Ltd, according to the statement.

Sterlite Power will continue its collaboration with IndiGrid and KKR to support infrastructure development in the country, it stated.