With an eye on India’s rapidly growing power sector, global investment firm KKR & Co Inc is leading a deal to acquire a controlling stake in India Grid Trust (IndiGrid) — India’s first power sector Infrastructure Investment Trust established by New Delhi-based Sterlite Power Grid Ventures Limited, to own inter-state power transmission assets in India.
KKR, together with Singapore’s sovereign wealth fund GIC, will acquire up to 57 percent of IndiGrid for $400 million. The two companies will invest $295 million for a 42 percent stake in the trust via a preference equity issuance. GIC will contribute $140 million to the deal, while KKR will invest the rest.
KKR will then acquire a 15 percent stake from IndiGrid’s current sponsor, Sterlite Power Grid pending regulatory approval. The deal will mark KKR’s first infrastructure investment in Asia since it set up a team late last year to focus on the sector in the region.
India aims to double its clean energy capacity to 40 percent of total power capacity by 2030, requiring new grid infrastructure, most of which is expected to be funded by foreign money.
Last updated: December 26th, 2025
