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L&T to sell Nabha Power to Torrent Power
Torrent Power Limited has signed a definitive agreement to acquire 100% equity stake and convertible instruments in Nabha Power Limited (NPL) from L&T Power Development Limited (L&T PDL), a wholly owned subsidiary of Larsen & Toubro (L&T), for an enterprise value of Rs 6,889 crore. The Securities Purchase Agreement (SPA) was executed on February 16, 2026. The transaction marks Torrent’s entry into the northern India power market. The aggregate consideration for the equity and convertible…