M&A

M&A

Torrent Power to acquire 51% stake in power distribution utility of Dadra and Nagar Haveli

BSE Disclosure  

Torrent Power Ltd has entered into a deal with the Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD, the holding entity) and Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Ltd (the SPV) for the purchase of 51% equity share capital of the SPV from the holding entity. The SPV will be responsible for distribution and retail supply of electricity, holding the distribution licence for DNH & DD. With the addition of DNH & DD, Torrent will distribute nearly 24 billion units of electricity per annum to over 3.85 million customers and cater a peak demand of over 5,000 MW.