India, April 8 -- The Competition Commission of India (CCI) has approved the proposed acquisition of 100% equity shares and preference shares in Nabha Power Limited by Torrent Power Limited.
The transaction involves Torrent Power acquiring the entire stake, including non-cumulative optionally convertible redeemable preference shares, from L&T Power Development Limited, on a fully diluted basis.
Torrent Power, a listed entity and part of the Torrent Group, operates across power generation, transmission, and distribution, along with manufacturing of power cables.
Nabha Power, currently a wholly owned subsidiary of L&T Power Development, operates a 2x700 MW supercritical thermal power plant at Rajpura in Punjab and has been operational sinc...