Debt

Debt financing

Sterlite Grid 32 raises Rs.2,450-Cr via listed NCDs to refinance MUML project

Business Standard  

Power transmission solution provider Sterlite Grid 32 Ltd (SGL32) has raised INR 2,450 crore through BSE-listed non-convertible debentures (NCDs) to refinance its Mumbai Urja Marg Ltd project. The National Bank for Financing Infrastructure and Development (NaBFID) and India Infrastructure Finance Company Ltd (IIFCL) have emerged as the successful bidders to the NCDs.This is the first listed NCD issuance of Sterlite Grid 32 after its joint venture with GIC of Singapore. The NCDs are rated AA+ stable by CRISIL Ratings.SGL32 has a portfolio of 10 completed and under-construction power transmission projects in Rajasthan, Gujarat, J&K, Karnataka, Haryana, Maharashtra, Goa and Kerala. SGL32's India footprint covers about 4,500 kms of transmission lines with a total capital expenditure of INR 25,000 crore.