The Competition Commission of India has approved the proposed acquisition of 100% equity shares and non-cumulative optionally convertible redeemable preference shares of Nabha Power Limited by Torrent Power Limited.
The transaction involves Torrent Power acquiring the entire stake in Nabha Power from L&T Power Development Limited on a fully diluted basis. Nabha Power, currently a wholly owned subsidiary of L&T Power Development, operates a 2×700 MW supercritical thermal power plant located in Rajpura, which has been operational since 2014.
Torrent Power, a publicly listed entity and part of the Torrent Group, has a diversified presence across power generation, transmission, distribution, and manufacturing of power cables, alongside interests in pharmaceuticals and gas distribution.
The detailed order from the Commission is awaited.
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 has approved Torrent Power’s acquisition of 100% stake in Nabha Power from L&T Power Development, strengthening its thermal power portfolio with a 1,400 MW plant in Punjab.){kind=link}