CCI clears Torrent Power’s acquisition of Nabha Power

The Competition Commission of India has approved the proposed acquisition of 100% equity shares and non-cumulative optionally convertible redeemable preference shares in Nabha Power Limited by Torrent Power Limited.

The transaction involves Torrent Power acquiring the entire shareholding in Nabha Power from L&T Power Development Limited on a fully diluted basis. Nabha Power is currently a wholly owned subsidiary of the seller.

Torrent Power is a publicly listed company engaged in power generation, transmission, and distribution, along with manufacturing and supply of power cables. It is part of the Torrent Group, which has business interests in power, pharmaceuticals, and gas distribution.

Nabha Power operates a 2×700 MW supercritical thermal power plant at Rajpura in Punjab, which has been in operation since 2014.

The approval follows Torrent Power’s earlier agreement, signed on February 16, 2026, to acquire Nabha Power from L&T Power Development Limited for an enterprise value of Rs 6,889 crore. The transaction includes an equity and convertible instruments consideration of Rs 3,660.87 crore and is expected to close by June 30, 2026. Upon completion, the acquisition will mark Torrent Power’s entry into the northern India’s power market and increase its operational generation capacity from around 5 GW to 6.4 GW.

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