Sterlite Power raises Rs 2 billion from Allianz Global Investors

Sterlite Power has raised Rs 2 billion in debt financing from Allianz Global Investors to focus on sustainable investments. The amount was raised in the form of a non-convertible debenture with a tenor of three years. The deal marks the first in the infrastructure sector for Allianz Global Investors in India and is aimed at reducing Sterlite’s holding company borrowings. Sterlite Power has reported that it is committed to the cause of “greening the grid” and is confident that its future developments will give it strong returns.

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