NEW DELHI: Sterlite Power Transmission (SPTL) is demerging its transmission infrastructure business with a view to unlocking value by creating distinct verticals based on consumer base, investor class and return profiles.
Under the demerger scheme, existing Sterlite Power shareholders will receive one additional share of SGL5 for every share of SPTL they hold, the company said on Friday.The power transmission infrastructure business has transmission assets in India and Brazil, which will now be transferred toSterlite Grid 5 Ltd (SGL5). Both SPTL and SGL5 will have independent boards and management teams.