Standard Chartered Private Equity to invest Rs 500 crore in SPGVL
Sterlite Technologies announced that it has entered into agreements with Standard Chartered Private Equity for an equity investment of Rs. 500 crore in Sterlite Power Grid Ventures (SPGVL).SPGVL, a subsidiary of Sterlite, focused on the development and operations of power transmission projects, will issue convertible securities to Standard Chartered Private Equity for a minority share.
The proceeds will be used for equity contribution in existing as well as new power transmission projects. While there have been many foreign investments in the power generation sector, this would be the first foreign investment into India's power transmission sector
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