Mumbai, July 1 -- Torrent Power has completed the acquisition of 100 per cent equity shares and convertible instruments of Nabha Power Ltd from L&T Power Development Ltd for Rs 36.32 billion (Rs 36.32 bn), consequent to closing adjustments. The transaction follows an earlier securities purchase agreement and receipt of approval from the Competition Commission of India. Torrent announced the completion in a regulatory filing to the stock exchanges.
Nabha Power Ltd operates a two 700 megawatt (MW) supercritical thermal power plant at Rajpura in Punjab and has been in commercial operation since 2014. Nabha is a wholly owned subsidiary of L&T Power Development Ltd, which is a subsidiary of infrastructure major Larsen & Toubro. The acquisition brings those generation assets into Torrent Power's portfolio.
Torrent Power is engaged in power generation, transmission, distribution and manufacture and supply of power transmission cables and is part of the Torrent Group, which has interests in power, pharmaceuticals and gas distribution. After the completion of the acquisition the company's operational capacity increased from five gigawatt (GW) to six point four GW. The expanded capacity strengthens the company's scale in India's power sector.
The company said the acquisition aligns with strategic priorities to augment baseload capacity and strengthen market position. Management noted integration and optimisation of the acquired assets with existing operations as next steps. The deal will expand the group's reach across generation and distribution businesses without change to previously disclosed facts.
Post acquisition the company intends to focus on operational efficiencies, fuel procurement and maintenance scheduling to support reliable supply and cost management across the enlarged portfolio. Financial and operational teams will oversee integration and report progress through regular filings. The move is positioned as a consolidation of baseload generation within the group while maintaining existing regulatory compliance and disclosure obligations.
Published by HT Digital Content Services with permission from Construction World.