Sterlite Tech likely to raise Rs 3500 cr via InvIT: Sources

Sterlite Technologies, one of the largest power transmission companies, is planning to raise Rs 3,500 crore via the Infrastructure Investment Trust (InvIT) route, say sources. Sterlite will use the funds to pare debt and meet capital expenditure, add sources. CNBC-TV18’s Navin Shetty, quoting sources, says that the company is likely to list four of its power transmission projects under the trust and may register with the Securities and Exchange Board of India (SEBI) in the first quarter of FY17. Sterlite Technologies currently has eight power transmission projects and debt of about Rs 5,000 crore. Replying to the channel’s queries, the company said it is exploring options to raise funds from routes such as InvITs, but has not finalized on anything yet.Watch video for more