Torrent Power Limited announced the sale of its entire stake in the associate company, UNM Foundation (a Section 8 entity). The company sold 50,000 Equity Shares for a total consideration of ₹5,00,000 on March 30, 2026. The transaction was executed with its Holding Company, Torrent Investments Limited, and confirmed to be conducted at an “arm’s length” basis.
Disclosure of Share Disposal
Torrent Power Limited has officially disclosed the sale of its stake in an associate company, UNM Foundation, a Section 8 Company. This disclosure was made pursuant to the applicable listing regulations on March 30, 2026.
Transaction Details
The Company completed the sale of 50,000 Equity Shares in UNM Foundation, where each share had a face value of ₹10. The aggregate consideration received for this disposal amounted to ₹5,00,000/-. The transaction was executed at 05:40 pm on the announcement date.
Counterparty and Related Party Status
The buyer in this transaction was Torrent Investments Limited, which serves as the Holding Company and Promoter of Torrent Power Limited. Consequently, this transaction is classified as a related party transaction. The Company explicitly confirmed that the transaction was executed on an “arm’s length” basis.
Information Regarding UNM Foundation
Given that UNM Foundation operates as a Section 8 company, the disclosure notes that there is no revenue or turnover contributed by this entity to the turnover or net worth of the listed company during the last financial year. Furthermore, the transaction does not involve any scheme of arrangement, such as a slump sale, amalgamation, or merger.
Conclusion of Sale
The details confirm that the shares were sold directly to the Holding Company, and the expected date of completion for the disposal has been marked as Completed.
Source: BSE
