CCI Approved Acquisition of 100% Stake of Nabha Power from L&T Power Development Ltd

The Competition Commission of India has approved Torrent Power’s plan to acquire a 100% stake in Nabha Power Ltd.

The approval follows an agreement announced in February 2026, under which Torrent Power will purchase the entire equity of Nabha Power from L&T Power Development Ltd at an enterprise value of ₹6,889 crore.

According to the regulator, the transaction involves the acquisition of all equity shares along with non-cumulative, optionally convertible, redeemable preference shares of Nabha Power on a fully diluted basis.

About Nabha Power

Nabha Power, currently a wholly owned subsidiary of L&T Power Development, runs a 2×700 MW supercritical thermal power plant in Rajpura, Punjab, which has been operational since 2014.

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About Torrent Power

Torrent Power, part of the broader Torrent Group, operates across power generation, transmission, distribution, and cable manufacturing, while the group also has interests in pharmaceuticals and gas distribution.

Torrent Power Limited reported a year-on-year increase in Total Comprehensive Income (TCI) to ₹147 crore for Q3FY26. This growth was primarily driven by higher contributions from its gas-based power plants, enhanced operational performance across its licensed and franchised distribution businesses, and stronger results from the Renewable Energy segment, partially offset by increased interest and depreciation expenses. The company noted that the previous year’s Q3 results included gains from the sale of non-current investments, which were not repeated in the current period.

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