Larsen & Toubro to Divest Nabha Power Limited to Torrent Power for Rs. 3,660.87 crores

Larsen & Toubro (L&T) has agreed to sell 100% of equity and convertible instruments in Nabha Power Ltd (NPL) to Torrent Power Ltd. NPL is a wholly-owned subsidiary of L&T Power Development Ltd and operates a 1,400 MW (2 X 700 MW) supercritical coal-fired thermal power plant at Rajpura in Patiala district, Punjab. The transaction is subject to requisite regulatory approvals and is a value-driven monetisation exercise, aligning with L&T’s strategic objective of unlocking value to strengthen its robust core businesses.