Torrent Power acquires land-holding firms for thermal power project

Torrent Power Limited has completed the acquisition of two companies owning land earmarked for a thermal power project in Madhya Pradesh.

The company purchased 100 per cent of Newzone Power Projects Private Limited (NZPPPL) and 49 per cent of Newzone India Private Limited (NZIPL) from the Sarawagi Family and related Hindu Undivided Families. The total deal value was Rs 211 crore. The share transfers were executed on 23 September 2025.

Before the transaction, NZPPPL held 51 per cent of NZIPL. Following the acquisition, Torrent Power now owns NZPPPL in full and indirectly controls NZIPL.

NZIPL’s key asset is about 922 acres of land in Annupur district, Madhya Pradesh. The parcels, comprising both private and government-leased land, are considered suitable for a coal-based project.

Both NZIPL and NZPPPL have reported no turnover in the past three years. Torrent Power stated the purpose of the acquisition is to set up a thermal power project on the acquired land. The acquisition was completed within four months.

NZIPL was incorporated on 12 October 1999, and NZPPPL was incorporated on 28 February 2008. Both were established with the objective of power generation.