L&T to sell Nabha Power to Torrent for Rs 3,660.87 crore

Core Business DivestedStrategic Transactions View source PDF Explain this filing

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Nifty 100market · index membership as recorded later (tracked since Jun 2026)+0.9%-0.2% vs market

Civil Construction peers, median of 91sector-0.6%+1.3% vs sector

On the reaction day the stock moved 0.2 pts less than Nifty 100 and 1.3 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Larsen & Toubro's wholly owned subsidiary L&T Power Development has signed a Securities Purchase Agreement to sell 100 percent of Nabha Power to Torrent Power for Rs 3,660.87 crore. Nabha Power operates a 1,400 MW coal-fired thermal plant in Punjab under a 25-year PPA, contributing 1.73 percent of L&T consolidated turnover. The deal is expected to close by June 30, 2026, and aligns with L&T's strategy to exit the development projects business.

Likely market impact

Positive for L&T as it unlocks value and sharpens focus on core businesses. Torrent gains entry into northern India power market with a high-quality operating asset.