Other Private Equity/Strategic Investments

Torrent Power picks up stakes in Newzone India, holding firm for Rs.211-Cr

BSE Announcement   Economic Times  

Torrent Power has acquired stakes in Assam-based Newzone India Pvt Ltd (NZIPL) and its holding company Newzone Power Projects Pvt Ltd (NZPPPL) for around INR 211 crore. It has acquired 11,95,110 equity shares of NZIPL and 30,00,000 equity shares NZPPPL of face value of INR 10 each for INR 211 crore. It has acquired 100% equity share capital of NZPPPL and 49% of NZIPL from the seller.The acquisition has been made with the objective of implementing the thermal power project on the land in the possession of the NZIPL in the Annupur District of Madhya Pradesh.

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