Sterlite Power on Monday said it has raised Rs 725 crore in a primary fundraising round from GEF Capital Partners and ENAM Holdings.
As part of Sterlite Power’s demerger exercise, the Global Products and Solutions (GPS) business was hived out as an independent company in October 2024, a company statement said.
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This is the first fundraise for the products and solutions business since its inception, it stated.
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, it informed.
The GPS business has sustained its growth trajectory, securing orders worth Rs 2,715 crores in H1 FY25.
As of November end, the open order book of the GPS business stood at Rs 6,700 crore.
This underscores Sterlite Power’s robust market position in both domestic and international market segments.
Pratik Agarwal, Managing Director, Sterlite Power Transmission, said, “Securing this funding marks a significant milestone for Sterlite Power’s GPS business…” On the investment in Sterlite Power, Alipt Sharma, Partner at GEF Capital Partners LLC, said in the statement, “We are excited to partner with Sterlite Power and support their portfolio of efficient and reliable products that will catalyse efficiency in power transmission.” Sterlite Power Transmission (SPTL) has formally demerged into two companies.
The demerged company viz., SPTL will now house the power capital goods business comprising cables, conductors, and specialised 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 organisation as we position ourselves for focused growth across two distinct business verticals.
Sterlite Power over the last three decades, has been delivering modern and dependable power transmission solutions globally.
The company offers a wide range of solutions in the conductors and cables segment.
The product portfolio has a comprehensive range of products and services such as High-Performance Conductors, Optical Ground Wire and HV/EHV Power Cables.
These products are designed to meet the evolving demands of the power sector,
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