Sterlite Power has raised ₹725 crore in its first primary fundraising round for the Global Products and Solutions (GPS) business from GEF Capital Partners and ENAM Holdings. The funds will support ongoing capital expansion, boost production capabilities, accelerate the development of new products, and strengthen the company’s presence in key international markets.
As part of it’s demerger, the Global Products and Solutions (GPS) business was spun off as an independent entity in October 2024, marking its first fundraising since inception. The capital raised will support ongoing capital expenditure, enhance production capabilities, accelerate new product development, and expand the company’s international presence.
In H1 FY25, the GPS business secured orders totaling Rs 2,715 crores, with an open order book of Rs 6,700 crores by the end of November, highlighting Sterlite Power’s strong position in both domestic and international markets. Pratik Agarwal, Managing Director of Sterlite Power Transmission, called the funding a key milestone, while Alipt Sharma, Partner at GEF Capital Partners LLC, expressed enthusiasm about supporting Sterlite Power’s efficient and reliable products for enhanced power transmission.
Following the demerger, Sterlite Power Transmission (SPTL) now focuses on the power capital goods business, including cables, conductors, and specialized services, while the newly formed Sterlite Grid 5 Ltd (SGL5) will manage transmission concessions. Shareholders of SPTL received shares of SGL5 in a 1:1 ratio. This decision positions Sterlite Power for focused growth across two distinct business sectors.
Over the past three decades, Sterlite Power has been delivering innovative and reliable power transmission solutions worldwide, offering products like High-Performance Conductors, Optical Ground Wire, and HV/EHV Power Cables. The company also provides specialized Engineering, Procurement, and Construction (EPC) services to enhance transmission capacity by upgrading existing infrastructure. Axis Capital served as the exclusive financial advisor, and Khaitan & Co. provided legal counsel for the transaction.
