Acquisitions23 Sept 2025, 07:11 pm
Torrent Power Ltd Acquires 49% Stake in Newzone India Pvt Ltd for 211 Crore
AI Summary
Torrent Power Ltd has acquired 11,95,110 equity shares of Newzone India Private Limited (NZIPL) and 30,00,000 equity shares of Newzone Power Projects Private Limited (NZPPPL) from Sarawagi Family and related HUFs. The acquisition represents 49% equity shares of NZIPL and 100% equity shares of NZPPPL. The total consideration for the acquisition is 211 Crore. NZIPL holds approximately 922 acres of land suitable for setting up a coal-based power plant.
Key Highlights
- Torrent Power Ltd acquires 49% stake in Newzone India Private Limited for 211 Crore
- Acquisition includes 100% equity shares of Newzone Power Projects Private Limited
- NZIPL holds approximately 922 acres of land suitable for setting up a coal-based power plant
- No turnover in NZIPL and NZPPPL for the last 3 years
- Acquisition expected to be completed in 4 months