Sterlite Power has successfully raised Rs 7.25 billion in a primary fundraising round from GEF Capital Partners and ENAM Holdings. This is the first fundraising initiative for the Global Products and Solutions (GPS) business since its establishment as an independent entity following Sterlite Power’s demerger in October 2024. Axis Capital was the exclusive financial advisor for this transaction and Khaitan & Co. acted as the legal counsel.
Reportedly, the funds will be utilised for ongoing capital expenditure expansion, enhancing production capabilities, advancing new product development, and strengthening Sterlite Power’s presence in key international markets. The GPS business has maintained a robust growth trajectory, securing orders worth Rs 27.15 billion during the first half of the financial year 2025. As of November 2024, the open order book for the GPS business stood at Rs 67.00 billion, reflecting its strong market position domestically and internationally.
The demerger has resulted in the creation of two distinct entities: Sterlite Power Transmission Limited (SPTL) and Sterlite Grid 5 Limited (SGL5). While SPTL focuses on the power capital goods business, including cables, conductors, and specialised services, SGL5 houses the transmission concessions business.
In June 2024, Sterlite Power secured Rs 13.73 billion financing from PFC Limited, for its Neemrana-II Kotputli Transmission Limited project.
