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Torrent Power has entered into an agreement to acquire Nabha Power (NPL), a coal-based power generation company, from Larsen & Toubro in a transaction valued at ₹6,889 crore. The deal represents a major expansion of Torrent Power’s thermal generation capacity in northern India.
As part of the agreement, Torrent will acquire 100% of the equity shares and convertible instruments held by L&T Power Development Ltd (LTPDL) in Nabha Power. The transaction is expected to be completed by June 30, 2026. Upon completion, Torrent Power’s total operational capacity will increase from approximately 5 GW to 6.4 GW, strengthening its diversified portfolio across gas, renewable, and coal-based power assets.
Out of the total enterprise value, Larsen & Toubro will receive ₹3,661 crore. Approximately ₹495 crore will be used to repay promoter loans, while the existing net debt of ₹2,733 crore as of March 31, 2025, will also be addressed under the transaction structure.
News by Rahul Yelligetti.
