SEPL Energy Sells Stake in Anzen InvIT, Holding Falls Below 3%

SEPL Energy Private Limited, the sponsor of Anzen India Energy Yield Plus Trust, sold 26.25 lakh units worth ₹32.81 crore on March 24, 2026. The transactions took place via on-market trades on the BSE and NSE. This latest sale reduced SEPL's holding in the infrastructure investment trust (InvIT) from 3.85% to 2.83%.

This divestment follows a similar sale on March 23, 2026, when SEPL sold 23.50 lakh units for ₹29.38 crore, lowering its stake from 4.77% to 3.85%.

SEPL Energy, formerly Sekura Energy Limited, was incorporated in April 2018 and is a portfolio company of the Edelweiss Infrastructure Yield Plus fund. It serves as both the sponsor and project manager for the Anzen India Energy Yield Plus Trust, leveraging its expertise in energy projects.

The sale occurs as Anzen India Energy Yield Plus Trust actively expands its asset base and raises capital. In March 2026, the trust acquired a majority stake in solar projects totaling approximately 816 MWp and is pursuing further acquisitions like Kudgi Transmission Limited. The trust also recently raised capital, including ₹696.44 crore through a preferential issue, to fund these growth initiatives.

Following these transactions, SEPL Energy's direct equity in Anzen India Energy Yield Plus Trust now stands at 2.83%. SEPL Energy continues to fulfill its role as Project Manager for the Trust.

Infrastructure Investment Trusts (InvITs) generally face risks including operational and maintenance challenges for their assets, potential regulatory changes affecting tariffs or operations, and the integration of new acquisitions. While SEPL remains a sponsor, significant stake reductions could raise questions about future strategic support, although the InvIT model relies on independent management and diverse unitholder interests.

As of March 31, 2024, Anzen InvIT's assets under management for its transmission SPVs were valued at Rs 23 billion, with a net debt to AUM ratio of approximately 28%. The trust's initial assets under management were over INR 2,300 crore.

Investors will monitor future stake adjustments by SEPL Energy and other major unitholders. Key factors to watch include the successful integration and financial performance of Anzen's recently acquired solar and transmission assets, the trust's dividend distribution strategy and yield generation, and the continued role of SEPL Energy as Project Manager. Any further capital-raising activities by the Trust will also be significant.