M&A

M&A

Torrent Power to acquire Nabha Power for Rs.6,889-Cr

BSE Announcement   Business Line  

Ahmedabad-based, publicly listed Torrent Power is to acquire 100% of the equity stake and convertible instruments in Patiala-based Nabha Power for an enterprise value of INR 6,889 crore from L&T Power Development Ltd.Incorporated in 2007, Nabha Power owns and operates a 1,400 MW supercritical coal-fired thermal power plant in Rajpura. Commissioned in 2014, the plant operates under a 25-year power purchase agreement and holds long-term fuel supply agreements with SECL (South Eastern Coalfields Ltd) for 2.775 million tonnes and NCL (Northern Coalfields Ltd) for 2.464 million tonnes.

For FY25, Nabha Power had reported about INR 4,422 Cr in Operating Income and about INR 442 Cr in PAT.