M&A M&A
Torrent Power to acquire Nabha Power for Rs.6,889-Cr
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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.
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For FY25, Nabha Power had reported about INR 4,422 Cr in Operating Income and about INR 442 Cr in PAT.