Sterlite Power gets stakeholders' nod to demerge transmission biz
The transmission business can target long-term, patient investors seeking predictable cash flow, while SPTL, focusing on Global Products & Services (GPS) business, can attract capital seeking higher returns typically suited for pre-IPO or capital market investors.
(SPTL) on Thursday said it has received ' nod to its . The demerged transmission infrastructure is to be housed under , and the and specialised will continue to remain under to pursue independent growth strategies."Sterlite Power receives stakeholders' for demerger of transmission business from SPTL. The vote on the demerger proposal received 100 per cent approval from secured creditors, 99.26 per cent approval from unsecured creditors, 99.99 per cent from shareholders present and voting, and 100 per cent by the non-fund-based lenders," the company said.
The simplified structure will allow each entity to attract capital pool tailored to its requirements. The transmission business can target long-term, patient investors seeking predictable cash flow, while SPTL, focusing on Global Products & Services (GPS) business, can attract capital seeking higher returns typically suited for pre-IPO or investors.
"This support from our stakeholders validates the strategic rationale behind the demerger. It is a significant milestone in our journey to create two future-ready businesses with distinct growth trajectories," , Managing Director, SPTL said.
SPTL is a leading private sector power transmission infrastructure developer and GPS provider.
Source: Stocks-Markets-Economic Times
