In June 2019, IndiGrid successfully completed acquisition of NTL and OGPTL asset from the sponsor Sterlite Power which takes it AUM to INR 106.67 Bn as of June 30, 2019. The Investment Manager has also signed framework agreement with Sterlite Power for other assets which enables IndiGrid to grow its AUM further to INR 170 Billion over the next two years
We expect to benefit from the skills and experience of the board of directors and the management teams of our Investment Manager in investing and financially managing our power transmission assets. Members of our Investment Manager‘s boards of directors and management teams have extensive experience in operating the power transmission sector and have established track records in negotiating, structuring and financing investments in power transmission assets and financially managing those assets as well as governing similar trusts internationally.
The InvIT Regulations set out the statutory requirements for, among other things, the board composition of an investment manager. We believe that Unitholders will benefit from the strong corporate governance requirements of the InvIT Regulations. Key features of our corporate governance structure are as follows:
All acquisitions made by IndiGrid must be approved by a majority of our Unitholders excluding the Sponsor with respect to the ROFO Assets or any other proposed acquisition from the Sponsor.