Torrent Power has completed the ₹3,632.35 crore acquisition of Nabha Power Ltd (NPL) from L&T Power Development Ltd, according to a regulatory filing. The transaction involved the acquisition of 100 per cent equity stake and convertible instruments of NPL at a total consideration of ₹3,632.35 crore, consequent to closing adjustments. The company had earlier informed stock exchanges about the execution of a Securities Purchase Agreement and receipt of approval from the Competition Commission of India for the acquisition. Nabha Power has become a wholly owned subsidiary of Torrent Power effective June 25, 2026, marking the conclusion of the strategic acquisition process.
Torrent Power's operational capacity has increased from 5 GW to 6.4 GW following the completion of this acquisition. The company is engaged in power generation, transmission, distribution and manufacturing of power transmission cables, and operates as part of the 'Torrent Group' which spans power, pharmaceuticals and gas distribution sectors. Nabha Power Ltd is a wholly-owned subsidiary of L&T Power Development Ltd, which is itself a wholly-owned subsidiary of infrastructure major Larsen & Toubro. This strategic move expands Torrent Power's operational footprint by integrating Nabha Power entirely into its portfolio, strengthening its position in the thermal power segment.
Nabha Power Ltd has been operating a 2x700 Megawatt supercritical thermal power plant at Rajpura, Punjab, since 2014. The acquisition provides Torrent Power with additional generation capacity and strengthens its position in the thermal power segment. The deal represents a significant expansion of Torrent's power generation portfolio through the acquisition of an established thermal power facility with proven operational history.
The acquisition process required clearance from the Competition Commission of India, which was obtained prior to the closing of the transaction. Torrent Power had previously intimated the exchanges regarding the execution of the agreement and the receipt of this regulatory approval on February 16, 2026, and April 08, 2026, respectively. The completion of this acquisition was disclosed to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
