Torrent Power Acquires Stake in Newzone Firms for Rs 2.11 B

29 Sep 2025 CW Team

Torrent Power Limited has acquired shares in Newzone India Private Limited (NZIPL) and Newzone Power Projects Private Limited (NZPPPL) for a total consideration of Rs 2.11 billion. The company will take 1,195,510 shares of NZIPL, representing 49 per cent equity, and 3,000,000 shares of NZPPPL, equivalent to 100 per cent ownership from the Sarawagi family and related HUFs, making Torrent Power the effective owner of both firms.

NZIPL holds around 922 acres of private and government-leased land in Annupur district, Madhya Pradesh, intended for a thermal power project. The acquisition, confirmed to be outside related party transactions, will be executed on a cash basis and is expected to complete within four months. NZIPL was incorporated on 12 October 1999, and NZPPPL on 28 February 2008, both focused on power generation.

In financial updates, Torrent Power posted a 24.7 per cent year-on-year decline in net profit to Rs 7.31 billion for the June 2025 quarter, down from Rs 9.72 billion in the same period last year. Revenue for the quarter fell 12.5 per cent to Rs 79.06 billion, compared with Rs 90.33 billion in June 2024.

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