Sterlite Power buys StanChart stake PE to fully own power transmission biz

Exit will help SCPE make a 100% gain on the investment it made in 2014

Transmission infrastructure developer Sterlite Power on Monday said the company bought back a 28.4 per cent stake from Standard Chartered private equity (SCPE) in its transmission infrastructure business. With the Rs 10.10 billion worth transaction, Sterlite will now own 100 per cent stake in this business.

"Sterlite Power had attracted an investment of Rs 5 billion in 2014 from SCPE, which was the first private foreign investment in the Indian transmission sector," the company said in a media statement. 

Valued at Rs 10.10 billion, the exit will help SCPE double the investment it made in 2014. According to the company's