AZB & Partners advised KKR & Co. Inc (“KKR”), through Esoteric II Pte. Ltd. (“Esoteric”) and Electron IM Pte. Ltd. (“Electron”), in relation to KKR’s investment in India Grid Trust (“Trust”) and in the investment manager of the Trust, Sterlite Investment Managers Limited (“SIML”).

The Trust and SIML in relation to the Trust’s acquisition of Sterlite Grid 2 Limited (“SG2L”), Sterlite Grid 3 Limited (“SG3L”), NRSS XXIX Transmission Limited (“NRSS”), Odisha Generation Phase – II Transmission Limited (“OGPTL”). The transaction comprised of (i) Acquisition by KKR of approx. 40% of the units of the Sterlite-sponsored Trust; (ii) Acquisition by KKR of a controlling stake (approx. 74% of the share capital) in the investment manager to the Trust; and (iii) Acquisitions by the Trust of 100% of the shares of two power transmission companies from the Sterlite group (SG2L and SG3L).

Concerned Partners from Transaction side were Ashwath Rau & Atreya Bhattacharya; from Competition side was Aditi Gopalakrishnan. Senior Associates involved from Transaction side were Pranav Atit & Raina Upadhyay; and from Competition side was Gaurav Bansal.