+
L&T Arm to Sell Nabha Power to Torrent Power in Rs 36.61 bn Deal
POWER & RENEWABLE ENERGY

L&T Arm to Sell Nabha Power to Torrent Power in Rs 36.61 bn Deal

Larsen and Toubro (L&T) arm has agreed to sell Nabha Power to Torrent Power in a transaction valued at Rs 36.61 bn. The deal covers the equity interests in the thermal power plant business and related operational assets. The parties have framed the terms to transfer ownership subject to customary conditions. The announcement detailed that the consideration reflects negotiated commercial terms between the buyer and seller and aligns with prevailing market conditions.\n\nL&T will use the proceeds to streamline its portfolio and concentrate on its engineering and construction operations, as stated in the release. Torrent Power will expand its generation capacity and integrate the acquired operations with its existing network. The firms characterised the sale as aligned with their strategic priorities. Management teams from both sides will coordinate operational transition plans to ensure continuity of supply and minimise disruption to stakeholders.\n\nThe transfer is expected to be subject to shareholder approvals, regulatory clearances and customary closing conditions in the energy sector. Financial considerations have been disclosed at headline value and will be reflected in financial statements on completion. The sale may alter capital allocation and debt metrics for the seller while supporting capacity growth for the acquirer. Analysts will observe the accounting treatment on completion and assess any implications for future investment and debt servicing capacity.\n\nThe transaction will require customary regulatory approvals and is likely to proceed through a staged closing process that addresses statutory and environmental compliances. Both companies will complete necessary filings with relevant authorities and monitor timelines for completion. The deal is expected to be concluded following receipt of all approvals and the satisfaction of conditions precedent. Shareholders will be updated as the process advances.

Larsen and Toubro (L&T) arm has agreed to sell Nabha Power to Torrent Power in a transaction valued at Rs 36.61 bn. The deal covers the equity interests in the thermal power plant business and related operational assets. The parties have framed the terms to transfer ownership subject to customary conditions. The announcement detailed that the consideration reflects negotiated commercial terms between the buyer and seller and aligns with prevailing market conditions.\n\nL&T will use the proceeds to streamline its portfolio and concentrate on its engineering and construction operations, as stated in the release. Torrent Power will expand its generation capacity and integrate the acquired operations with its existing network. The firms characterised the sale as aligned with their strategic priorities. Management teams from both sides will coordinate operational transition plans to ensure continuity of supply and minimise disruption to stakeholders.\n\nThe transfer is expected to be subject to shareholder approvals, regulatory clearances and customary closing conditions in the energy sector. Financial considerations have been disclosed at headline value and will be reflected in financial statements on completion. The sale may alter capital allocation and debt metrics for the seller while supporting capacity growth for the acquirer. Analysts will observe the accounting treatment on completion and assess any implications for future investment and debt servicing capacity.\n\nThe transaction will require customary regulatory approvals and is likely to proceed through a staged closing process that addresses statutory and environmental compliances. Both companies will complete necessary filings with relevant authorities and monitor timelines for completion. The deal is expected to be concluded following receipt of all approvals and the satisfaction of conditions precedent. Shareholders will be updated as the process advances.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code