Torrent Power has acquired 100% equity shares of Newzone Power Projects Private Limited (NZPPPL) and an additional 49% equity stake in Newzone India Private Limited (NZIPL) for ₹211 Crore. This acquisition enhances Torrent Power’s portfolio and strategic land assets for future power projects. The transaction was completed on September 23, 2025.
Acquisition Overview
Torrent Power Limited has announced the acquisition of 11,95,110 equity shares of Newzone India Private Limited (NZIPL) and 30,00,000 equity shares of Newzone Power Projects Private Limited (NZPPPL). The total consideration for this acquisition is ₹211 Crore.
Details of the Acquired Companies
NZIPL has approximately 922 acres of land, comprising private and government leased land. NZPPPL is the holding company of NZIPL. Post-acquisition, Torrent Power holds 100% equity in NZPPPL and a total of 100% in NZIPL (previously holding 51% through NZPPPL).
Transaction Details
The acquisition was completed on September 23, 2025, with the NZIPL transaction finalized at 04:46 pm and NZPPPL at 05:26 pm. The sellers were Sarawagi Family and related HUFs.
Strategic Rationale
The acquisition aims to utilize the land possessed by NZIPL for the implementation of a thermal power project in the Annupur District of Madhya Pradesh. The land is suitable for setting up a coal-based power plant.
Source: BSE
