KKR Sells Stake in India Grid Trust for Rs 277 Crore

KKR reduced its stake in India Grid Trust by 2.6%, with the sale conducted through an open market transaction for Rs 277 crore. The transaction involved selling 2.01 crore units at Rs 138.01 each. India Grid Trust, a listed power sector InvIT, reported significant profit growth in its recent quarter.

Private equity firm KKR has trimmed its stake in India Grid Trust, the nation's first listed infrastructure investment trust (InvIT) in the power sector. On Friday, KKR executed a sale of 2.6% unitholding for Rs 277 crore in an open market transaction.

An affiliate of KKR, Esoteric II Pte, acted as the sponsor for India Grid Trust. According to BSE bulk deal data, Esoteric II divested 2.01 crore units, equivalently a 2.6% unitholding, at an average price of Rs 138.01 per unit, totaling the transaction to Rs 277.40 crore.

India Grid Trust, established in 2016 and operating with assets worth Rs 29,748 crore, showed exceptional financial performance, observing a 154% increase in consolidated net profit to Rs 98.73 crore in its recent quarterly results, underpinned by boosted revenue streams.