Torrent Power Limited has informed the Exchange about Acquisition of equity shares of Newzone India Private Limited and Newzone Power Projects Private Limited.
TORNTPOWER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.1 pts less than Nifty Midcap 150 and in line with its Power peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Torrent Power has acquired 100% of Newzone Power Projects Private Limited (NZPPPL) and 49% of Newzone India Private Limited (NZIPL) from the Sarawagi Family for a total cash consideration of ₹211 Crore. Since NZPPPL already held 51% of NZIPL, Torrent Power now effectively controls 100% of both entities. NZIPL holds approximately 922 acres of land in Annupur District, Madhya Pradesh, which is suitable for setting up a coal-based thermal power plant. Neither company has any turnover, and the acquisition is not a related party transaction. The deal is expected to be completed within 4 months.
This acquisition supports Torrent Power's expansion plans in thermal power generation, giving it access to a large land bank for a new coal-based power project. The ₹211 Crore cash outlay is modest relative to Torrent Power's size, and the move is aligned with its core business, potentially adding future generation capacity and long-term revenue visibility.