Torrent Power Expands Footprint with Major Acquisition

Torrent Power has acquired stakes in Newzone India Pvt Ltd and its holding company for Rs 211 crore. This acquisition involves 100% of NZPPPL and 49% of NZIPL, aimed at executing a thermal power project in Annupur District, Madhya Pradesh.

Torrent Power made headlines on Tuesday with the strategic acquisition of shares in Newzone India Pvt Ltd and its parent company, Newzone Power Projects Pvt Ltd, valued at approximately Rs 211 crore.

The exchange filing revealed that Torrent Power has secured 11,95,110 equity shares in NZIPL and 30,00,000 in NZPPPL. This significant investment gives Torrent Power full control over NZPPPL and a substantial 49% stake in NZIPL.

This strategic investment is part of Torrent Power's broader plan to implement a thermal power project on a parcel of land located in the Annupur District of Madhya Pradesh, marking a key expansion in the energy sector for the company.

(With inputs from agencies.)