Sterlite Electric Unlisted Shares
Sterlite power gets green light for demerger, to split into two entities
The Ecoonomic Times
2 min read
Sterlite Power Secures Near-Unanimous Approval for Demerger, Creating Two Strategic Entities.
Expert Analysis:
Sterlite Power Transmission Limited (SPTL) secured unanimous stakeholder approval for the demerger of its transmission business.
100% approval from secured creditors and non-fund-based lenders.
99.26% approval from unsecured creditors.
99.99% approval from equity shareholders.
Demerger will result in two distinct entities:
Sterlite Grid 5 Limited for Transmission Infrastructure.
SPTL for Global Products & Specialized EPC Services.
Restructuring aims:
Enable targeted growth strategies.
Attract tailored capital investments.
GPS business:
Targets higher-return, pre-IPO capital.
Secured orders worth INR 7,000 crores in FY24, a 35% year-on-year increase.
Pratik Agarwal's Endorsement: Pratik Agarwal, Managing Director of SPTL, supports the strategic rationale behind the demerger.
Overwhelming Stakeholder Consensus:
SPTL’s demerger received near-unanimous approval from all stakeholders.
Creates two entities: Sterlite Grid 5 Limited and SPTL.
Facilitates independent growth and investment strategies.
Transmission Infrastructure business:
Attracts stable, long-term investments and increasing demand for robust power.
GPS business:
Targets higher returns, with INR 7,000 crores in orders in FY24 (up 35% year-on-year).
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