Torrent Power acquires equity shares in Torrent Urja 47
The company has acquired 50,000 equity shares from Torrent Green Energy
Torrent Power has acquired 50,000 equity shares at face value of Rs 10 each for a total consideration of Rs 5,00,000 of Torrent Urja 47 (TU47) from Torrent Green Energy (TGEPL), Wholly Owned Subsidiary of the Company.
The Company is considering various proposals for acquisition of thermal power plants either directly or through its subsidiary companies and to make separate thermal business vertical. For achieving the said objective, the company is acquiring TU47.
Torrent Power is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh.
