Sterlite Power Secures Funding Of Rs. 305 Crores- Future Business Growth Plans Of The Company

Sterlite Power

Sterlite Power is a leading power transmission developer and solution provider in India and Brazil. The company has achieved financial closure for its Kishtwar Transmission Limited (KTL) project based in Jammu & Kashmir. The company has recently received funds worth Rs. 305 crores from Aseem Infrastructure Finance to set up the KTL project. Not only does the company perform well in its business but also doing great in the unlisted share market. As the company is raising funds for its future business plans & projects, Sterlite Power unlisted shares are attracting potential retail investors to buy shares and become a part of the company’s success. In this blog, we will talk about Sterlite Power funding and its future business growth plans. Stride along till the end to learn about the company’s latest funding raised and its future plans. 

Sterlite Power Received Rs. 305 Crore Rupees Fundings

In January 2023, Sterlite Power said it received funds worth Rs. 305 crores from Aseem Infrastructure Finance to establish Kishtwar Transmission Limited (KTL) project located in J&K. The project entails the construction of a transmission system comprising a 400/132kV GIS Substation at Kishtwar and a 400kV transmission line from Kishenpur to Dulhasti. Further, this transmission system will help with the evacuation of 100 MW of power from the Pakal Dul Hydro Electric project to the Kishtwar substation. 

Further, the company got fresh working capital of Rs. 250 crores from Induslnd Bank. Today, the company has established new industry benchmarks by using state-of-the-art technologies and innovative financing.  

The Mission Behind Raising Fund 

The object of this project is to bring in additional power flow, and it will also aid in decongesting the downstream networks in the area. This will ultimately enhance the quality and reliability of power flow in Kashmir Valley. Akshay Hiranandani, Executive Director- Corporate Finance, Sterlite Power, said, “We are pleased to conclude this deal with Aseem Infrastructure Finance Limited in record time. We are proud to play a role in providing reliable power and building a secure energy future for J&K. This will be our second project in the region after delivering the mega NRSS Kashmir project ahead of schedule.” 

In addition, the company covers almost 14,602 circuit kilometres of transmission lines across India and Brazil and acquired KTL’s particular purpose vehicle in December 2022. In FY21-22, the company won 30 transmission projects under the PPP model, including 17 in India and 13 in Brazil. All these projects and achievements of the company entice people to know about Sterlite Power unlisted share price

Sterlite Power IPO At Your Glance

For any unlisted share company, filing for an IPO or going public is crucial as it increases the reputation of the company and its unlisted share price, which is highly beneficial for its existing investors. Sterlite Power Transmission Ltd. company has also filed a draft red herring prospectus (DRHP) with SEBI to launch Rs. 1,250 crore IPO, which will impact Sterlite Power share price in the future. The company will use the money raised from the issue to repay the debt of the firm and its arm Khargone Transmission Ltd (KTL). So, Sterlite Power IPO is an opportunity for potential investors to make early investments in its unlisted shares and earn a high return on investment once the company goes public. 

Future Plans Of The Company

To build new power transmission lines to connect renewable generation, the Government of India disclosed an Rs. 2.44 trillion ($29.6 Billion) in December 2022. Now the government aims to triple the clean power capacity by 2030. Certainly, it will make a significant impact on the order book pipeline for all the business lines of the company. As per Pratik Aggarwal, MD of Sterlite Power, the power transmission sector in India is seeing an upward trajectory driven by an urgent need for robust transmission infrastructure to integrate 500 GW of renewable power by 2030. This is going to make a positive impact on the finance and overall growth of the company in the future. We believe that the company will raise more such funds in the future to expand its business operations in the industry. 

Buy Sterlite Unlisted Shares With Stockify

Undoubtedly, the funds and future plans of Sterlite Power have amazed you to consider its unlisted shares. If you want to boost your investment portfolio and earn a high return on your investment, investing in Sterlite Power’s unlisted shares is your go-to option. If you’re searching for the best stock broking platform to buy unlisted shares, Stockify is your ideal destination. You can speak to expert brokers at Stockify to garner information about any pre-IPO company, such as its EBITDA, EPS Growth, profit & loss statement, share price, etc. Make your investment journey easy with Stockify today.

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