Sterlite Power has successfully raised Rs.725 crore in a primary fundraise round from GEF Capital Partners and ENAM Holdings.
As part of Sterlite Power’s demerger exercise, the Global Products & Solutions (GPS) business was hived out and is now an independent company since October 2024. This is the first fund-raise for the products and solutions business since its inception. The funds will be used for the ongoing capex expansion and drive strategic growth initiatives by enhancing production capabilities, accelerating new product development, and expanding presence across key international markets, a company release said.
Order book
The GPS business has sustained its growth trajectory, securing orders worth Rs.2,715 crore in H1FY25.As of November end, the open order book of the GPS business stoodat Rs.6700 crore. This underscores Sterlite Power’s robust market position in both domestic and international market segments, the release noted.
Significant milestone
Pratik Agarwal, Managing Director, Sterlite Power Transmission Ltd, said, “Securing this funding marks a significant milestone for Sterlite Power’s GPS business. This investment will significantly bolster our ability to deliver cutting-edge solutions and advanced technology to the market. With this fund raise, we will be better equipped to deliver innovative, reliable power solutions that support the energy transition and meet the growing demand for clean energy across India and the world.”
Demerger of STPL
Sterlite Power Transmission Ltd (SPTL) has formally demerged into two companies. The demerged company viz., SPTL will now house the power capital goods business, comprising of cables, conductors, and specialized services. The resulting entity Sterlite Grid 5 Ltd (SGL5) will house the transmission concessions business. Each shareholder of SPTL has received shares of SGL5 in the ratio of 1:1.This pivotal decision marks a significant milestone for our organization as we position ourselves for focused growth across two distinct business verticals.
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