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Sterlite Grid 5 Unlisted Shares
DRHP Status : Not Filed
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Fundamentals About Sterlite Grid 5
Downloads & Investor Documents
All documents are provided for informational purposes and are subject to regulatory disclosures.
Key Financials of Sterlite Grid 5
About Company
Let us take a glance at key points about the Sterlite Grid 5 Limited. After the following table, we will explain these points in detail:
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | FY25 Revenue ₹1,161 cr · PAT (Consol.) –₹426 cr | Power transmission platform owning and operating interstate transmission assets; annuity, EPC, and monetisation-based model. |
| Industry & Market Position | ~13,671 ckm network · 24 projects portfolio | Among the leading private sector transmission platforms in India. |
| Revenue Growth Trend | FY24 ₹1,246 cr → FY25 ₹1,161 cr | Revenue moderation driven by lower EPC execution during the year. |
| Profitability & Margins | EBITDA ₹98 cr · EBITDA margin ~8.4% | Operating profitability stable; consolidated losses largely due to overseas exposure. |
| Cash Flow Quality | Annuity-linked transmission cash flows | Long-term TSA contracts provide strong revenue visibility. |
| Balance Sheet Strength | Debt ≈ Equity (1:1 leverage) | Moderate leverage typical of infrastructure SPV-led capital structures. |
| Unlisted Valuation | ~₹4,200–4,300 cr | Valuation primarily driven by asset monetisation prospects and InvIT optionality. |
| Management & Governance | Part of Sterlite Power / Resonia platform | Backed by an experienced transmission developer and strong sponsor ecosystem. |
| Growth Triggers & Catalysts | Asset monetisation · Renewable grid integration | Transmission demand expected to rise with accelerated renewable capacity additions. |
| Liquidity & Exit Visibility | Unlisted · Exit via InvIT / stake sale / IPO | Liquidity event dependent on execution of asset recycling and monetisation strategy. |
Sterlite Grid 5 Limited (SGL 5) is a new company created from the demerger of Sterlite Power Transmission Limited (SPTL, now known as Sterlite Electric).
The goal was to separate the power transmission infrastructure business (in India and Brazil) into its own focused company.
- Board approval: September 28, 2023
- Stakeholders' approval: May 2024 (almost 100% from creditors and shareholders)
- NCLT approval: September 26, 2024
- Effective date (after ROC filing): October 8, 2024
The demerger is now complete — SGL 5 is an independent company!
What SGL 5 Does Now
It handles the infrastructure business:
- India: Owns and runs power transmission lines, projects, and networks. Keeps bidding for new domestic tenders.
- Brazil: Manages long-term transmission concessions and assets in the Brazilian market.
This gives stable, regulated cash flows from operating transmission assets. Sterlite Electric (the old SPTL) keeps the Global Products & Solutions (GPS) business, like products, EPC services, and tech solutions.
Share Swap (How Shareholders Got Shares)
- For every 1 share you held in SPTL (face value ₹2),
- You got 1 share in Sterlite Grid 5 Limited (face value ₹2).
It was a clean 1:1 swap — your ownership stayed the same proportion.
- Main promoter group: Linked to Vedanta Group (through Sterlite family lineage — Pravin Agarwal and family are core promoters).
- Major investor: GIC (Singapore sovereign fund) holds ~49% in related entities like Sterlite Grid 32 (a JV under SGL 5 structure) — attracted by stable infra cash flows.
Quick Summary
Sterlite Grid 5 Limited is now a separate, focused power transmission company owning and operating assets in India and Brazil. The demerger (completed October 2024) creates clearer focus: stable regulated income here, while Sterlite Electric handles products/tech.
It's unlisted (no IPO plans announced yet), but the structure improves fundraising, governance, and growth potential. Great for long-term investors interested in India's power infra boom — think steady concessions and expansion!
Shareholding Pattern of Sterlite Grid 5
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Frequently Asked Questions
Sterlite Grid 5 Limited is the resulting company created from the demerger of Sterlite Power Transmission Limited’s Infrastructure Business in India and Brazil.
To separate the infra assets into an independent entity for better focus, governance, and long-term strategic planning.
It will manage all power transmission infrastructure operations in India and Brazil that previously belonged to SPTL.
SPTL will continue operating its Global Products & Solutions (GPS) business after the demerger.
Shareholders of SPTL will receive 1 share of SGL 5 for every 1 share of SPTL they hold.
The demerger is awaiting approval from the NCLT. It becomes effective only after the NCLT order is filed with the RoC.
No, the company is currently unlisted and will remain so until the demerger is completed and any listing plans are announced.
The appointed date is 1 January 2023, unless another date is mutually agreed upon by SPTL and SGL 5.
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